CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Holdings Raised by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division grew its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,760 shares of the company’s stock after acquiring an additional 960 shares during the period. Central Pacific Bank Trust Division’s holdings in CCC Intelligent Solutions were worth $197,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CCCS. Ghisallo Capital Management LLC purchased a new position in CCC Intelligent Solutions in the second quarter valued at about $132,917,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of CCC Intelligent Solutions during the 2nd quarter valued at about $70,844,000. Van Berkom & Associates Inc. bought a new stake in shares of CCC Intelligent Solutions in the 2nd quarter valued at approximately $61,605,000. Wasatch Advisors LP increased its holdings in CCC Intelligent Solutions by 49.1% in the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after buying an additional 4,716,587 shares during the last quarter. Finally, Dragoneer Investment Group LLC increased its holdings in CCC Intelligent Solutions by 31.5% in the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after buying an additional 3,809,200 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CCC Intelligent Solutions

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

Wall Street Analyst Weigh In

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

CCC Intelligent Solutions Trading Down 0.4 %

Shares of CCC Intelligent Solutions stock opened at $11.55 on Friday. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.88. The company’s fifty day simple moving average is $11.86 and its 200-day simple moving average is $11.22. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 577.79, a PEG 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 (NYSE:CCCS) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (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 for the quarter, compared to the consensus estimate of $237.41 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

CCC Intelligent Solutions announced that its board has authorized a share repurchase plan on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are 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.