Barclays PLC Buys 66,386 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Barclays PLC lifted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 155.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,020 shares of the company’s stock after buying an additional 66,386 shares during the quarter. Barclays PLC’s holdings in CCC Intelligent Solutions were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CCCS. Dragoneer Investment Group LLC increased its holdings in CCC Intelligent Solutions by 31.5% in the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after acquiring an additional 3,809,200 shares in the last quarter. Adero Partners LLC increased its stake in shares of CCC Intelligent Solutions by 118.5% in the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock worth $63,879,000 after purchasing an additional 3,135,650 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock worth $1,824,000 after purchasing an additional 51,607 shares in the last quarter. Teca Partners LP raised its position in shares of CCC Intelligent Solutions by 21.8% during the 2nd quarter. Teca Partners LP now owns 2,361,183 shares of the company’s stock valued at $26,233,000 after purchasing an additional 422,768 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of CCC Intelligent Solutions by 59.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 496,935 shares of the company’s stock valued at $5,521,000 after buying an additional 185,122 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCCS. Barrington Research reissued an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Barclays lowered their price target 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. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company 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 company’s stock. According to data from MarketBeat.com, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $13.89.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the purchase, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at $55,177,460. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 443,153 shares of company stock worth $5,390,863. 6.67% of the stock is currently owned by company insiders.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $11.03 on Tuesday. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88. The firm has a market capitalization of $6.90 billion, a P/E ratio of 551.78, a price-to-earnings-growth ratio of 6.68 and a beta of 0.71. The company has a fifty day simple moving average of $11.94 and a two-hundred day simple moving average of $11.21. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

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

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

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.