Insider Buying: CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Acquires $1,216,000.00 in 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 dated 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 completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $1,216,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock opened at $11.89 on Thursday. The company has a 50 day moving average of $11.78 and a 200-day moving average of $11.21. The company has a market cap of $7.44 billion, a PE ratio of 594.80, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. 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 Holdings Inc. has a 1-year low of $9.79 and a 1-year high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast 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 of Directors has approved a stock 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its holdings in shares of CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after purchasing an additional 1,729 shares during the last quarter. Huntington National Bank boosted its position in CCC Intelligent Solutions by 37.6% in the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after buying an additional 1,599 shares in the last quarter. Marco Investment Management LLC bought a new stake in shares of CCC Intelligent Solutions during the third quarter worth $113,000. KBC Group NV increased its holdings in shares of CCC Intelligent Solutions by 81.7% during the third quarter. KBC Group NV now owns 10,314 shares of the company’s stock worth $114,000 after buying an additional 4,637 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in shares of CCC Intelligent Solutions in the 3rd quarter valued at $117,000. Institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CCCS. Barrington Research reissued an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Barclays decreased their price target 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. JPMorgan Chase & Co. raised their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. 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, Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.