Sanctuary Advisors LLC Purchases New Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Sanctuary Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,296 shares of the company’s stock, valued at approximately $136,000.

A number of other institutional investors have also recently added to or reduced their stakes in CCCS. Bank of New York Mellon Corp lifted its stake in shares of CCC Intelligent Solutions by 98.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,061,540 shares of the company’s stock valued at $22,904,000 after purchasing an additional 1,021,543 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CCC Intelligent Solutions by 26.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,411 shares of the company’s stock worth $538,000 after acquiring an additional 10,023 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of CCC Intelligent Solutions by 23.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 32,775 shares of the company’s stock valued at $364,000 after acquiring an additional 6,213 shares during the last quarter. Equitable Trust Co. bought a new position in shares of CCC Intelligent Solutions in the 2nd quarter valued at approximately $508,000. Finally, Pembroke Management LTD lifted its holdings in CCC Intelligent Solutions by 3.8% in the 2nd quarter. Pembroke Management LTD now owns 1,131,957 shares of the company’s stock worth $12,576,000 after purchasing an additional 41,906 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

CCC Intelligent Solutions Stock Performance

CCCS opened at $11.80 on Tuesday. The stock has a market cap of $7.38 billion, a PE ratio of 590.30, a P/E/G ratio of 6.80 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.88. The stock’s 50 day simple moving average is $11.81 and its 200-day simple moving average is $11.21. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) 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 company had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter in the prior year, the company posted $0.03 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share repurchase plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 75,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mary Jo Prigge sold 2,489 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the transaction, the insider now directly owns 97,268 shares in the company, valued at approximately $1,167,216. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 443,153 shares of company stock valued at $5,390,863. 6.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCCS shares. Barclays dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Barrington Research reissued an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.