AMI Asset Management Corp Acquires 2,174 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

AMI Asset Management Corp lifted its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 92,484 shares of the company’s stock after purchasing an additional 2,174 shares during the period. AMI Asset Management Corp’s holdings in CCC Intelligent Solutions were worth $1,085,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth $25,000. UMB Bank n.a. purchased a new position in CCC Intelligent Solutions in the 4th quarter worth about $28,000. Advisors Asset Management Inc. lifted its holdings in 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 buying an additional 1,729 shares in the last quarter. GAMMA Investing LLC boosted its position in CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after buying an additional 2,479 shares during the period. Finally, Financial Management Professionals Inc. bought a new position in CCC Intelligent Solutions in the 4th quarter worth about $54,000. 95.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Crescenzo Neil E. De purchased 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, with a total value of $1,216,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rodney Christo sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 443,153 shares of company stock valued at $5,390,863. Company insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Up 0.8 %

CCCS stock opened at $11.20 on Tuesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88. The stock has a market capitalization of $7.35 billion, a PE ratio of 74.67 and a beta of 0.72. The firm has a 50 day moving average of $11.93 and a 200 day moving average of $11.21.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data 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. The firm had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. Sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

CCC Intelligent Solutions announced that its Board of Directors has approved a stock repurchase plan on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares repurchase plans are usually an indication 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.