Oppenheimer Asset Management Inc. Purchases 185,122 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Oppenheimer Asset Management Inc. lifted its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 59.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 496,935 shares of the company’s stock after acquiring an additional 185,122 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in CCC Intelligent Solutions were worth $5,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wrapmanager Inc. bought a new position in shares of CCC Intelligent Solutions during the 2nd quarter worth $259,000. Cornercap Investment Counsel Inc. bought a new position in shares of CCC Intelligent Solutions during the 2nd quarter worth $528,000. Brasada Capital Management LP bought a new position in shares of CCC Intelligent Solutions during the 2nd quarter worth $6,216,000. Van Berkom & Associates Inc. bought a new position in CCC Intelligent Solutions in the 2nd quarter worth about $61,605,000. Finally, Oak Thistle LLC bought a new position in CCC Intelligent Solutions in the 2nd quarter worth about $617,000. Institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CCCS. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, July 31st. Bank of America began coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Jefferies Financial Group cut their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.78.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS opened at $10.89 on Monday. The business’s 50-day moving average price is $10.73 and its two-hundred day moving average price is $11.24. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $13.41. The stock has a market cap of $6.77 billion, a P/E ratio of -51.86, a PEG ratio of 6.16 and a beta of 0.62. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.40.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. The firm had revenue of $232.60 million for the quarter, compared to analysts’ expectations of $230.16 million. During the same quarter last year, the firm posted $0.02 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Rodney Christo sold 4,177 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $42,772.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Herb sold 20,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $213,882.88. Following the transaction, the insider now directly owns 217,872 shares in the company, valued at $2,231,009.28. The disclosure for this sale can be found here. Insiders have sold a total of 25,292,611 shares of company stock valued at $285,547,265 in the last 90 days. Corporate insiders own 6.67% of the company’s stock.

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.