GAMMA Investing LLC Grows Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

GAMMA Investing LLC increased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 286.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,343 shares of the company’s stock after buying an additional 2,479 shares during the quarter. GAMMA Investing LLC’s holdings in CCC Intelligent Solutions were worth $39,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in shares of 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 buying an additional 1,729 shares during the period. Huntington National Bank raised its position in shares of CCC Intelligent Solutions by 37.6% during the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after buying an additional 1,599 shares during the period. Marco Investment Management LLC purchased a new stake in shares of CCC Intelligent Solutions during the 3rd quarter valued at approximately $113,000. KBC Group NV raised its position in shares of 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 buying an additional 4,637 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of CCC Intelligent Solutions during the 3rd quarter valued at approximately $117,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Githesh Ramamurthy sold 9,348 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total transaction of $107,502.00. Following the completion of the transaction, the insider now owns 4,798,040 shares in the company, valued at approximately $55,177,460. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Crescenzo Neil E. De purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at $1,216,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 443,153 shares of company stock worth $5,390,863. Corporate insiders own 6.67% of the company’s stock.

Wall Street Analyst Weigh In

CCCS has been the topic of several analyst reports. Barclays reduced 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 research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Morgan Stanley upgraded 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 reiterated a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions 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. According to MarketBeat.com, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $13.89.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS opened at $11.03 on Tuesday. 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 market cap of $6.90 billion, a price-to-earnings ratio of 551.78, a price-to-earnings-growth ratio of 6.68 and a beta of 0.71. 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 Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88.

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

CCC Intelligent Solutions announced that its Board of Directors has authorized a share repurchase plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are 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.