Crescenzo Neil E. De Buys 100,000 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) Director Crescenzo Neil E. De purchased 100,000 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the acquisition, the director now owns 100,000 shares of the company's stock, valued at $1,216,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

CCC Intelligent Solutions Stock Down 1.4 %

Shares of NYSE:CCCS traded down $0.17 during trading on Monday, hitting $11.88. 3,636,716 shares of the company's stock traded hands, compared to its average volume of 3,436,963. The company has a 50-day moving average price of $11.73 and a 200-day moving average price of $11.20. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 594.30, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The business's revenue 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 EPS for the current fiscal year.

CCC Intelligent Solutions announced that its Board of Directors has initiated a share buyback plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On CCC Intelligent Solutions

Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in shares of 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 buying an additional 1,729 shares during the last quarter. Huntington National Bank boosted its position in CCC Intelligent Solutions by 37.6% during the third quarter. Huntington National Bank now owns 5,852 shares of the company's stock valued at $65,000 after purchasing an additional 1,599 shares during the last quarter. Marco Investment Management LLC bought a new position in CCC Intelligent Solutions in the third quarter valued at approximately $113,000. KBC Group NV grew its stake 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 purchasing an additional 4,637 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of CCC Intelligent Solutions during the 3rd quarter worth approximately $117,000. Institutional investors and hedge funds own 95.79% of the company's stock.

Analyst Ratings Changes

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

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.