CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC raised its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 193.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,335 shares of the company’s stock after acquiring an additional 54,894 shares during the period. Park Avenue Securities LLC’s holdings in CCC Intelligent Solutions were worth $978,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Oak Thistle LLC acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at about $298,000. Eagle Bay Advisors LLC acquired a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $25,000. Hilltop National Bank grew its holdings in shares of CCC Intelligent Solutions by 21.3% in the fourth quarter. Hilltop National Bank now owns 8,386 shares of the company’s stock valued at $98,000 after purchasing an additional 1,474 shares in the last quarter. Baker Tilly Wealth Management LLC grew its holdings in shares of CCC Intelligent Solutions by 6.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company’s stock valued at $169,000 after purchasing an additional 888 shares in the last quarter. Finally, Norman Fields Gottscho Capital Management LLC grew its holdings in shares of CCC Intelligent Solutions by 34.5% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock valued at $4,663,000 after purchasing an additional 101,885 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

CCC Intelligent Solutions Trading Up 0.8 %

Shares of CCC Intelligent Solutions stock opened at $11.20 on Tuesday. The company has a fifty day simple moving average of $11.93 and a 200-day simple moving average of $11.21. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 560.28 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last issued its 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 analysts’ expectations of $237.41 million. During the same quarter in the prior year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share buyback program on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total transaction of $107,502.00. Following the sale, the insider now owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,153 shares of company stock worth $5,390,863. Corporate insiders own 6.67% of the company’s stock.

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.