CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Position Increased by Synovus Financial Corp

Synovus Financial Corp boosted its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,404 shares of the company’s stock after purchasing an additional 3,627 shares during the quarter. Synovus Financial Corp’s holdings in CCC Intelligent Solutions were worth $2,524,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its holdings in shares of CCC Intelligent Solutions by 5.8% during the third quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock valued at $262,000 after acquiring an additional 1,299 shares during the period. Bradley Foster & Sargent Inc. CT lifted its position in CCC Intelligent Solutions by 2.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock valued at $745,000 after purchasing an additional 1,390 shares during the last quarter. Hardy Reed LLC boosted its stake in CCC Intelligent Solutions by 7.1% during the 3rd quarter. Hardy Reed LLC now owns 21,540 shares of the company’s stock valued at $238,000 after purchasing an additional 1,430 shares during the period. Parkside Financial Bank & Trust grew its position in CCC Intelligent Solutions by 15.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares during the last quarter. Finally, Huntington National Bank increased its stake 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 period. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Price Performance

NYSE:CCCS opened at $12.13 on Monday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $11.60 and its 200 day moving average price is $11.18. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.79 and a 52-week high of $12.88. The firm has a market cap of $7.59 billion, a P/E ratio of 606.50, a PEG ratio of 6.80 and a beta of 0.71.

CCC Intelligent Solutions (NYSE:CCCS) last announced 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 analysts’ expectations of $237.41 million. During the same quarter in the previous year, the company 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 predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the transaction, the insider now directly owns 4,798,040 shares of the company’s stock, valued at $55,177,460. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rodney Christo sold 9,916 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $12.67, for a total transaction of $125,635.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 443,153 shares of company stock worth $5,390,863. 6.67% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CCCS shares. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Bank of America assumed coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Finally, Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.89.

CCC Intelligent Solutions Company 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.