Insider Buying: CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Purchases 100,000 Shares of Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Crescenzo Neil E. De bought 100,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $1,216,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CCC Intelligent Solutions Stock Performance

NYSE CCCS opened at $11.88 on Tuesday. 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 company has a fifty day simple moving average of $11.73 and a 200 day simple moving average of $11.20. 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 market cap of $7.43 billion, a P/E ratio of 594.30, a PEG ratio of 6.80 and a beta of 0.71.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping 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 company had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts predict 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 authorized a share buyback plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its position in CCC Intelligent Solutions by 153.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after buying an additional 1,729 shares during the last quarter. Huntington National Bank raised its holdings in shares of 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 purchasing an additional 1,599 shares during the last quarter. Marco Investment Management LLC bought a new position in shares of CCC Intelligent Solutions during the third quarter valued at about $113,000. KBC Group NV lifted its position 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 valued at $114,000 after purchasing an additional 4,637 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in CCC Intelligent Solutions during the third quarter worth about $117,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analyst Ratings Changes

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