CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 23.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 453,911 shares of the company's stock after purchasing an additional 85,725 shares during the quarter. JPMorgan Chase & Co. owned 0.07% of CCC Intelligent Solutions worth $5,016,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its position in shares of CCC Intelligent Solutions by 153.0% in the third 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 period. Huntington National Bank lifted its position in CCC Intelligent Solutions by 37.6% during the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company's stock worth $65,000 after acquiring an additional 1,599 shares in the last quarter. Marco Investment Management LLC purchased a new position in CCC Intelligent Solutions in the 3rd quarter worth approximately $113,000. KBC Group NV grew its position 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, Tidal Investments LLC purchased a new stake in shares of CCC Intelligent Solutions during the third quarter valued at approximately $117,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Activity

In related news, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the transaction, the director now directly owns 100,000 shares of the company's stock, valued at $1,216,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Githesh Ramamurthy sold 8,805 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.50, for a total value of $101,257.50. Following the transaction, the insider now owns 4,798,040 shares of the company's stock, valued at approximately $55,177,460. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 443,153 shares of company stock valued at $5,390,863. Company insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Stock Performance

Shares of CCCS traded up $0.09 during mid-day trading on Friday, hitting $11.20. The stock had a trading volume of 3,623,949 shares, compared to its average volume of 3,812,241. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market cap of $7.01 billion, a PE ratio of 560.28 and a beta of 0.72. The company's fifty day simple moving average is $11.93 and its two-hundred day simple moving average is $11.21.

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

CCC Intelligent Solutions declared that its board has initiated a share repurchase plan on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

CCCS has been the subject of several analyst reports. Piper Sandler restated a "neutral" rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Barrington Research restated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price 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 increased their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, Barclays dropped their price objective on 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.