The Manufacturers Life Insurance Company Acquires 22,626 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

The Manufacturers Life Insurance Company raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 35.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 85,961 shares of the company’s stock after acquiring an additional 22,626 shares during the period. The Manufacturers Life Insurance Company’s holdings in CCC Intelligent Solutions were worth $955,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wedmont Private Capital lifted its position in CCC Intelligent Solutions by 9.7% in the 1st quarter. Wedmont Private Capital now owns 12,266 shares of the company’s stock valued at $146,000 after acquiring an additional 1,082 shares in the last quarter. American International Group Inc. lifted its holdings in shares of CCC Intelligent Solutions by 68.6% in the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in shares of CCC Intelligent Solutions by 2.1% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock worth $745,000 after buying an additional 1,390 shares during the period. Banque Cantonale Vaudoise grew its holdings in shares of CCC Intelligent Solutions by 128.4% during the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after buying an additional 1,424 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised 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 valued at $132,000 after buying an additional 1,564 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insider Buying and Selling

In related news, CAO Rodney Christo sold 4,177 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total transaction of $42,772.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Herb sold 20,887 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $213,882.88. Following the transaction, the insider now owns 217,872 shares of the company’s stock, valued at approximately $2,231,009.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 238,787 shares of company stock valued at $2,418,609 over the last 90 days. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $10.77 on Monday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.40. The stock has a market cap of $6.70 billion, a PE ratio of -51.29, a PEG ratio of 6.26 and a beta of 0.62. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.83. The business has a 50-day simple moving average of $10.66 and a two-hundred day simple moving average of $11.08.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) 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 company had revenue of $232.60 million during the quarter, compared to the consensus estimate of $230.16 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CCCS. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, July 31st. Bank of America started coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Jefferies Financial Group dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.75.

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.