Van Berkom & Associates Inc. Has $70 Million Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Van Berkom & Associates Inc. increased its stake in CCC Intelligent Solutions Holdings Inc. by 17.3%, now holding approximately 7.75 million shares valued at around $70 million, making it the firm's 23rd largest holding.
• A variety of analysts have recently adjusted their ratings on CCC Intelligent Solutions, with Piper Sandler reducing its price target from $11 to $9 and JPMorgan Chase downgrading the stock to "underweight."
• Insider activity includes Director Crescenzo Neil E. De purchasing 100,000 shares for $854,000, while Director Eric Wei sold 30 million shares for approximately $272 million, indicating significant movement in ownership.

Van Berkom & Associates Inc. grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 17.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,752,187 shares of the company's stock after purchasing an additional 1,145,160 shares during the quarter. CCC Intelligent Solutions makes up about 2.2% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 23rd biggest position. Van Berkom & Associates Inc. owned 1.18% of CCC Intelligent Solutions worth $70,002,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CCCS. Quarry LP purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter worth $36,000. Machina Capital S.A.S. acquired a new stake in shares of CCC Intelligent Solutions during the first quarter valued at about $98,000. Valeo Financial Advisors LLC acquired a new position in CCC Intelligent Solutions in the first quarter worth about $100,000. Forum Financial Management LP acquired a new position in CCC Intelligent Solutions in the first quarter worth about $124,000. Finally, Curated Wealth Partners LLC grew its stake in CCC Intelligent Solutions by 42.1% in the first quarter. Curated Wealth Partners LLC now owns 14,268 shares of the company's stock worth $129,000 after purchasing an additional 4,224 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Activity

In related news, Director Lauren Young sold 30,000,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the sale, the director owned 1,562,344 shares in the company, valued at approximately $14,186,083.52. This trade represents a 95.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Crescenzo Neil E. De bought 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average price of $8.54 per share, with a total value of $854,000.00. Following the purchase, the director owned 213,429 shares of the company's stock, valued at $1,822,683.66. This trade represents a 88.16% increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Stock Down 0.2%

Shares of CCC Intelligent Solutions stock traded down $0.02 on Wednesday, hitting $9.91. 2,050,617 shares of the company traded hands, compared to its average volume of 7,394,183. The company has a market cap of $6.53 billion, a PE ratio of 495.55 and a beta of 0.74. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The company has a 50-day moving average price of $9.31 and a 200 day moving average price of $9.58. 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 issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm had revenue of $251.57 million during the quarter, compared to analysts' expectations of $249.87 million. During the same period in the prior year, the company posted $0.09 earnings per share. CCC Intelligent Solutions's revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

CCCS has been the subject of a number of research reports. Barrington Research restated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday. JPMorgan Chase & Co. cut CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 target price on the stock. in a report on Monday, June 23rd. Barclays dropped their price target on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced 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. Finally, Piper Sandler cut their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.06.

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.