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

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Crescenzo Neil E. De purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction on Friday, December 20th. The stock was bought 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 in the company, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CCC Intelligent Solutions Stock Up 0.1 %

CCCS stock opened at $11.89 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The stock’s 50 day simple moving average is $11.76 and its 200 day simple moving average is $11.20. The company has a market cap of $7.44 billion, a P/E ratio of 594.80, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. During the same quarter last year, the firm posted $0.03 EPS. CCC Intelligent Solutions’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect 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 program on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several large investors have recently added to or reduced their stakes in the business. Synovus Financial Corp raised its stake in shares of CCC Intelligent Solutions by 1.6% in the third quarter. Synovus Financial Corp now owns 228,404 shares of the company’s stock worth $2,524,000 after purchasing an additional 3,627 shares during the last quarter. Tidal Investments LLC purchased a new stake in CCC Intelligent Solutions in the 3rd quarter valued at $117,000. Sanctuary Advisors LLC purchased a new position in CCC Intelligent Solutions during the 3rd quarter worth $136,000. Barclays PLC grew its stake in shares of CCC Intelligent Solutions by 155.7% in the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock worth $1,205,000 after acquiring an additional 66,386 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Piper Sandler restated a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. 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 research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.89.

About CCC Intelligent Solutions

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.