Everence Capital Management Inc. Takes Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Everence Capital Management Inc. acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,410 shares of the company’s stock, valued at approximately $134,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake 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 purchasing an additional 1,729 shares during the last quarter. GAMMA Investing LLC boosted its position in CCC Intelligent Solutions by 286.9% in the fourth 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 last quarter. Huntington National Bank increased its holdings in CCC Intelligent Solutions by 37.6% in the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after buying an additional 1,599 shares during the period. Marco Investment Management LLC purchased a new position in CCC Intelligent Solutions during the 3rd quarter worth approximately $113,000. Finally, KBC Group NV lifted its stake in CCC Intelligent Solutions by 81.7% during the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock valued at $114,000 after acquiring an additional 4,637 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of the 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mary Jo Prigge sold 2,489 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total transaction of $29,868.00. Following the sale, the insider now owns 97,268 shares of the company’s stock, valued at $1,167,216. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 443,153 shares of company stock valued at $5,390,863. Insiders own 6.67% of the company’s stock.

Wall Street Analyst Weigh In

CCCS has been the subject of several recent research reports. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Piper Sandler reissued a “neutral” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Barrington Research restated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Barclays dropped their price objective 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. Finally, JPMorgan Chase & Co. upped their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.89.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $11.50 on Friday. The business has a fifty day moving average of $11.92 and a two-hundred day moving average of $11.22. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.79 and a 52-week high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 575.29, a price-to-earnings-growth ratio of 6.80 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

CCC Intelligent Solutions declared that its Board of Directors has initiated a share repurchase program on Friday, December 20th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is 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.