Blair William & Co. IL Invests $2.90 Million in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Blair William & Co. IL acquired 320,989 shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the first quarter, valued at approximately $2.89 million.
• CCC Intelligent Solutions reported quarterly earnings of $0.09 EPS, exceeding analysts' expectations, with revenue of $260.45 million—a 12% year-over-year increase.
• Insider trading activity included a significant sale by Director Lauren Young, who sold 30 million shares for approximately $272.4 million, representing a 95% decrease in their holdings.

Blair William & Co. IL bought a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 320,989 shares of the company's stock, valued at approximately $2,899,000.

A number of other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas raised its holdings in shares of CCC Intelligent Solutions by 13.6% in the first quarter. Teacher Retirement System of Texas now owns 184,804 shares of the company's stock valued at $1,669,000 after buying an additional 22,185 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of CCC Intelligent Solutions by 644.2% in the first quarter. GAMMA Investing LLC now owns 24,878 shares of the company's stock valued at $225,000 after buying an additional 21,535 shares during the last quarter. Amalgamated Bank raised its position in CCC Intelligent Solutions by 4.9% in the 1st quarter. Amalgamated Bank now owns 24,885 shares of the company's stock worth $225,000 after purchasing an additional 1,163 shares during the last quarter. KBC Group NV raised its position in CCC Intelligent Solutions by 26.0% in the 1st quarter. KBC Group NV now owns 20,261 shares of the company's stock worth $183,000 after purchasing an additional 4,186 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in CCC Intelligent Solutions by 35.7% in the 1st quarter. Fifth Third Bancorp now owns 41,678 shares of the company's stock worth $376,000 after purchasing an additional 10,957 shares during the last quarter. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Trading Up 0.1%

Shares of CCCS stock traded up $0.01 on Tuesday, hitting $9.24. The stock had a trading volume of 1,299,414 shares, compared to its average volume of 7,565,902. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The firm has a market cap of $6.01 billion, a P/E ratio of 462.48 and a beta of 0.74. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average price of $9.48 and a two-hundred day moving average price of $9.47.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 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 $260.45 million during the quarter, compared to analyst estimates of $256.21 million. During the same period in the prior year, the business earned $0.09 EPS. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on CCCS shares. Barclays boosted their price objective on shares of CCC Intelligent Solutions from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Barrington Research restated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, August 4th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective for the company. in a research report on Monday, June 23rd. Morgan Stanley dropped their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.07.

Insider Activity at CCC Intelligent Solutions

In other news, CAO Rodney Christo sold 5,302 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $9.76, for a total value of $51,747.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy A. Welsh bought 100,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were acquired at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the transaction, the insider owned 168,472 shares in the company, valued at approximately $1,521,302.16. This represents a 146.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 120,005,302 shares of company stock worth $1,137,051,748. Corporate insiders own 6.03% of the company's stock.

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.