Barclays PLC Acquires 66,386 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Barclays PLC boosted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 155.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,020 shares of the company’s stock after purchasing an additional 66,386 shares during the quarter. Barclays PLC’s holdings in CCC Intelligent Solutions were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CCCS. Dragoneer Investment Group LLC lifted its holdings in shares of CCC Intelligent Solutions by 31.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after acquiring an additional 3,809,200 shares during the last quarter. Adero Partners LLC lifted its stake in CCC Intelligent Solutions by 118.5% during the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock worth $63,879,000 after purchasing an additional 3,135,650 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of CCC Intelligent Solutions by 45.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock worth $1,824,000 after purchasing an additional 51,607 shares in the last quarter. Teca Partners LP increased its position in shares of CCC Intelligent Solutions by 21.8% during the 2nd quarter. Teca Partners LP now owns 2,361,183 shares of the company’s stock valued at $26,233,000 after purchasing an additional 422,768 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of CCC Intelligent Solutions by 59.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 496,935 shares of the company’s stock valued at $5,521,000 after buying an additional 185,122 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Mary Jo Prigge sold 2,489 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total transaction of $29,868.00. Following the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,167,216. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Rodney Christo sold 75,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.80, for a total value of $885,000.00. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 in the last 90 days. Insiders own 6.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CCCS shares. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. 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, December 9th. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Finally, Barclays reduced their price target on 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average price target of $13.89.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock opened at $11.03 on Tuesday. 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 has a market cap of $6.90 billion, a price-to-earnings ratio of 551.78, a PEG ratio of 6.68 and a beta of 0.71. The stock’s 50 day simple moving average is $11.94 and its two-hundred day simple moving average is $11.21. 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 (NYSE:CCCS) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. As a group, analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions declared that its board has initiated a share repurchase 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

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.