Ghisallo Capital Management LLC Invests $132.92 Million in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Ghisallo Capital Management LLC purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 11,963,771 shares of the company’s stock, valued at approximately $132,917,000. CCC Intelligent Solutions accounts for approximately 8.5% of Ghisallo Capital Management LLC’s investment portfolio, making the stock its largest position.

Several other large investors have also recently made changes to their positions in the company. Wedmont Private Capital increased its position in shares of CCC Intelligent Solutions by 9.7% during the first quarter. Wedmont Private Capital now owns 12,266 shares of the company’s stock worth $146,000 after purchasing an additional 1,082 shares in the last quarter. American International Group Inc. grew its holdings in CCC Intelligent Solutions by 68.6% in the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings 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 buying an additional 1,390 shares in the last quarter. Banque Cantonale Vaudoise grew its holdings in CCC Intelligent Solutions by 128.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock valued at $30,000 after buying an additional 1,424 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings 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 valued at $132,000 after buying an additional 1,564 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Michael John Silva sold 29,022 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the transaction, the insider now owns 30,172 shares in the company, valued at approximately $324,349. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 38,816 shares of CCC Intelligent Solutions stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $10.25, for a total value of $397,864.00. Following the transaction, the insider now directly owns 97,268 shares in the company, valued at approximately $996,997. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the completion of the transaction, the insider now owns 30,172 shares in the company, valued at $324,349. The disclosure for this sale can be found here. Insiders have sold 238,787 shares of company stock worth $2,418,609 in the last quarter. 6.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCCS. Bank of America began coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price for the company. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Finally, Jefferies Financial Group dropped their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $13.75.

CCC Intelligent Solutions Price Performance

CCCS opened at $10.81 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of -51.48, a PEG ratio of 6.35 and a beta of 0.62. The stock’s 50-day moving average price is $10.67 and its 200 day moving average price is $11.15. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $13.35.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $232.60 million for the quarter, compared to the consensus estimate of $230.16 million. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current year.

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.