Mackenzie Financial Corp Makes New $575,000 Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Mackenzie Financial Corp acquired a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 51,780 shares of the company’s stock, valued at approximately $575,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wedmont Private Capital lifted its holdings in CCC Intelligent Solutions by 9.7% during the 1st quarter. Wedmont Private Capital now owns 12,266 shares of the company’s stock valued at $146,000 after purchasing an additional 1,082 shares during the last quarter. American International Group Inc. boosted its holdings in shares of CCC Intelligent Solutions by 68.6% during the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares during the period. Bradley Foster & Sargent Inc. CT grew its stake in CCC Intelligent Solutions by 2.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock valued at $745,000 after buying an additional 1,390 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in CCC Intelligent Solutions by 128.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock valued at $30,000 after acquiring an additional 1,424 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in CCC Intelligent Solutions by 15.2% during the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after acquiring an additional 1,564 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CCCS shares. Bank of America began coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target for the company. Jefferies Financial Group reduced their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $13.75.

Insider Activity

In related news, insider Brian Herb sold 20,887 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $213,882.88. Following the completion of the sale, the insider now directly owns 217,872 shares in the company, valued at $2,231,009.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CCC Intelligent Solutions news, Director Eileen Schloss sold 99,925 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.89, for a total transaction of $988,258.25. Following the sale, the director now owns 54,047 shares of the company’s stock, valued at approximately $534,524.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Herb sold 20,887 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $213,882.88. Following the completion of the transaction, the insider now owns 217,872 shares of the company’s stock, valued at $2,231,009.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 238,787 shares of company stock worth $2,418,609. Insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Down 0.1 %

CCCS stock opened at $10.62 on Friday. The company has a market cap of $6.60 billion, a PE ratio of -50.57, a price-to-earnings-growth ratio of 6.35 and a beta of 0.62. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.40. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $13.01. The business has a 50-day simple moving average of $10.65 and a 200 day simple moving average of $11.13.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $232.60 million during the quarter, compared to the consensus estimate of $230.16 million. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. Sell-side analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

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.