HighTower Advisors LLC Acquires 561,367 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

HighTower Advisors LLC raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1,355.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 602,797 shares of the company's stock after acquiring an additional 561,367 shares during the quarter. HighTower Advisors LLC owned about 0.10% of CCC Intelligent Solutions worth $6,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its holdings 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. CWM LLC lifted its holdings in shares of CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company's stock worth $34,000 after buying an additional 2,419 shares in the last quarter. Huntington National Bank grew its stake 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 acquiring an additional 1,599 shares in the last quarter. Marco Investment Management LLC bought a new stake in CCC Intelligent Solutions during the 3rd quarter worth approximately $113,000. Finally, KBC Group NV lifted its stake in CCC Intelligent Solutions by 81.7% in the 3rd quarter. KBC Group NV now owns 10,314 shares of the company's stock worth $114,000 after purchasing an additional 4,637 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Trading Up 0.3 %

Shares of NYSE CCCS traded up $0.04 during midday trading on Tuesday, reaching $12.47. The company had a trading volume of 1,490,778 shares, compared to its average volume of 3,389,369. The stock has a market cap of $7.80 billion, a PE ratio of 623.50, a price-to-earnings-growth ratio of 6.98 and a beta of 0.70. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.88. The firm's fifty day moving average price is $11.51 and its 200-day moving average price is $11.17. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings data 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 return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, insider Githesh Ramamurthy sold 9,348 shares of the firm's stock in a transaction 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 completion of the sale, the insider now owns 4,798,040 shares of the company's stock, valued at $55,177,460. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rodney Christo sold 75,000 shares of the business's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 443,153 shares of company stock worth $5,390,863. 6.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on CCCS shares. Barclays reduced their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an "overweight" rating in a research note on Monday. Bank of America initiated coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a "buy" rating and a $15.00 price objective for the company. Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note 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. According to data from MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.89.

CCC Intelligent Solutions 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.