Charles Schwab Investment Management Inc. Raises Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Charles Schwab Investment Management Inc. grew its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 26.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,811,792 shares of the company’s stock after buying an additional 801,320 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in CCC Intelligent Solutions were worth $42,120,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares during the last quarter. CWM LLC raised its position in CCC Intelligent Solutions by 352.6% in the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after purchasing an additional 2,419 shares during the period. Huntington National Bank lifted its stake in CCC Intelligent Solutions by 37.6% in the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after purchasing an additional 1,599 shares during the last quarter. KBC Group NV lifted its stake in CCC Intelligent Solutions by 81.7% in the third quarter. KBC Group NV now owns 10,314 shares of the company’s stock worth $114,000 after purchasing an additional 4,637 shares during the last quarter. Finally, Quarry LP boosted its position in CCC Intelligent Solutions by 304.0% during the second quarter. Quarry LP now owns 11,219 shares of the company’s stock valued at $125,000 after buying an additional 8,442 shares during the period. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock opened at $12.60 on Monday. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $9.79 and a 12 month high of $12.83. The stock has a market cap of $7.88 billion, a PE ratio of 630.32, a price-to-earnings-growth ratio of 6.94 and a beta of 0.63. The company’s fifty day moving average price is $11.28 and its 200-day moving average price is $11.11. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. On average, equities analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Bank of America initiated coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target for the company. Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Finally, Barclays cut their price target on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.78.

Insider Buying and Selling

In other news, CAO Rodney Christo sold 9,916 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $12.67, for a total transaction of $125,635.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the sale, the insider now directly owns 4,798,040 shares of the company’s stock, valued at $55,177,460. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,153 shares of company stock worth $5,390,863 in the last quarter. Corporate insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions 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.