Huntington National Bank Raises Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Huntington National Bank increased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 37.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,852 shares of the company’s stock after buying an additional 1,599 shares during the quarter. Huntington National Bank’s holdings in CCC Intelligent Solutions were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CCCS. Dragoneer Investment Group LLC boosted its holdings in CCC Intelligent Solutions by 31.5% in the second 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. Comerica Bank raised its position in shares of CCC Intelligent Solutions by 103.1% in the 1st quarter. Comerica Bank now owns 774,261 shares of the company’s stock valued at $9,260,000 after purchasing an additional 392,966 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in CCC Intelligent Solutions by 200.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 203,543 shares of the company’s stock worth $2,261,000 after purchasing an additional 135,710 shares in the last quarter. Element Capital Management LLC acquired a new position in CCC Intelligent Solutions during the 2nd quarter valued at approximately $7,941,000. Finally, Vanguard Group Inc. raised its holdings in shares of CCC Intelligent Solutions by 17.7% in the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock worth $335,299,000 after buying an additional 4,225,920 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the sale, the insider now owns 30,172 shares of the company’s stock, valued at approximately $324,349. This trade represents a 49.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 75,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,664 shares of company stock worth $1,435,614. Company insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Down 1.4 %

Shares of CCCS stock opened at $11.61 on Tuesday. 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 Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.68. The stock has a 50 day moving average of $10.98 and a 200 day moving average of $11.00. The stock has a market cap of $7.26 billion, a P/E ratio of 580.79, a P/E/G ratio of 6.76 and a beta of 0.63.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $237.41 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Barclays reduced their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group dropped their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised shares of 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions Company 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.