Insider Buying: CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Acquires 100,000 Shares of Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) Director Crescenzo Neil E. De bought 100,000 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $8.54 per share, with a total value of $854,000.00. Following the transaction, the director now owns 213,429 shares of the company's stock, valued at $1,822,683.66. The trade was a 88.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

CCC Intelligent Solutions Trading Up 0.6%

Shares of CCCS stock traded up $0.05 on Friday, hitting $8.81. The stock had a trading volume of 8,042,497 shares, compared to its average volume of 5,039,638. 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 $8.14 and a twelve month high of $12.88. The company has a fifty day moving average price of $8.87 and a two-hundred day moving average price of $10.38. The firm has a market cap of $5.81 billion, a P/E ratio of 440.72 and a beta of 0.76.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. During the same period in the previous year, the company posted $0.09 earnings per share. The company's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CCCS has been the subject of several analyst reports. Barclays lowered their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Piper Sandler reduced their price target on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.19.

Hedge Funds Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. acquired a new stake in CCC Intelligent Solutions during the 4th quarter worth approximately $28,000. TD Private Client Wealth LLC bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $31,000. Quarry LP acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $36,000. Banque Cantonale Vaudoise acquired a new stake in shares of CCC Intelligent Solutions during the first quarter worth $37,000. Finally, AlphaQuest LLC bought a new stake in CCC Intelligent Solutions in the 1st quarter valued at $47,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.