Barclays PLC Grows Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Barclays PLC grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 155.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,020 shares of the company's stock after purchasing an additional 66,386 shares during the period. Barclays PLC's holdings in CCC Intelligent Solutions were worth $1,205,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CCCS. Advisors Asset Management Inc. grew its stake in CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company's stock worth $32,000 after purchasing an additional 1,729 shares in the last quarter. Huntington National Bank grew its position in shares of CCC Intelligent Solutions by 37.6% during the third quarter. Huntington National Bank now owns 5,852 shares of the company's stock worth $65,000 after buying an additional 1,599 shares in the last quarter. Marco Investment Management LLC purchased a new stake in shares of CCC Intelligent Solutions during the third quarter worth approximately $113,000. KBC Group NV raised its holdings in CCC Intelligent Solutions by 81.7% in the third quarter. KBC Group NV now owns 10,314 shares of the company's stock valued at $114,000 after acquiring an additional 4,637 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in CCC Intelligent Solutions in the third quarter worth approximately $124,000. Institutional investors and hedge funds own 95.79% of the company's stock.

Insider Activity at CCC Intelligent Solutions

In related news, insider Mary Jo Prigge sold 2,489 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the sale, the insider now owns 97,268 shares in the company, valued at $1,167,216. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Githesh Ramamurthy sold 9,348 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the transaction, the insider now owns 4,798,040 shares in the company, valued at $55,177,460. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 in the last quarter. Company insiders own 6.67% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CCCS shares. Barrington Research reaffirmed an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Piper Sandler reaffirmed a "neutral" rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, Barclays cut their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $13.89.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock traded down $0.04 during trading hours on Tuesday, hitting $10.99. The stock had a trading volume of 6,227,333 shares, compared to its average volume of 3,510,792. The stock's 50 day moving average is $11.94 and its 200 day moving average is $11.21. The firm has a market capitalization of $6.87 billion, a PE ratio of 549.77, a PEG ratio of 6.68 and a beta of 0.72. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. During the same period last year, the firm posted $0.03 EPS. CCC Intelligent Solutions's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions announced that its board has authorized a share buyback plan on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

CCC Intelligent Solutions Company Profile

CCC Intelligent Solutions Holdings Inc, operates as a software as a service company for the property and casualty insurance economy in the United States and China. The company's cloud-based software as a service platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders and more.