Y Intercept Hong Kong Ltd Takes $300,000 Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Y Intercept Hong Kong Ltd acquired a new stake in CCC Intelligent Solutions, purchasing 33,173 shares valued at approximately $300,000 during Q1.
• The company reported $251.57 million in revenue for the latest quarter, exceeding analysts' expectations, with earnings per share matching the consensus estimate of $0.08.
• CCC Intelligent Solutions has seen significant changes in analyst ratings, with price targets being adjusted and an overall average rating of "Moderate Buy" based on various assessments.

Y Intercept Hong Kong Ltd bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 33,173 shares of the company's stock, valued at approximately $300,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $36,000. Valeo Financial Advisors LLC purchased a new stake in shares of CCC Intelligent Solutions during the 1st quarter worth about $100,000. Sagespring Wealth Partners LLC purchased a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth about $133,000. Two Sigma Securities LLC purchased a new position in CCC Intelligent Solutions in the 4th quarter valued at about $139,000. Finally, MGO One Seven LLC purchased a new position in CCC Intelligent Solutions in the 4th quarter worth approximately $145,000. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Stock Up 0.6%

Shares of CCCS traded up $0.06 during midday trading on Friday, hitting $9.73. The company had a trading volume of 19,333,473 shares, compared to its average volume of 7,495,337. The company's 50 day moving average price is $9.37 and its 200 day moving average price is $9.56. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 486.74 and a beta of 0.74. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. 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 - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $260.45 million during the quarter, compared to analyst estimates of $256.21 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. On average, equities research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. cut CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price target on the stock. in a research note on Monday, June 23rd. Barrington Research reiterated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday. The Goldman Sachs Group lowered 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 note on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of 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. Finally, Piper Sandler reduced their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CCC Intelligent Solutions currently has a consensus rating of "Hold" and an average price target of $12.07.

Insider Transactions at CCC Intelligent Solutions

In related news, insider Timothy A. Welsh acquired 100,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the purchase, the insider owned 168,472 shares in the company, valued at $1,521,302.16. This represents a 146.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rodney Christo sold 5,302 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $9.76, for a total transaction of $51,747.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,005,302 shares of company stock worth $544,851,748. 6.03% of the stock is owned by company insiders.

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.