Jefferies Financial Group Inc. Raises Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Jefferies Financial Group Inc. increased its holdings in CCC Intelligent Solutions by 27.6%, now owning over 6.3 million shares valued at about $57 million, making it the investor's 17th largest position.
• CCC Intelligent Solutions reported a 12.0% increase in quarterly revenue year-over-year, totaling $260.45 million, with an earnings per share of $0.09, surpassing estimates.
• Insider trading activity included a significant purchase by Timothy A. Welsh of 100,000 shares, increasing his ownership by 146.05%, while Director Lauren Young sold 30 million shares, reducing her stake by 95.05%.

Jefferies Financial Group Inc. increased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 27.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,318,379 shares of the company's stock after acquiring an additional 1,366,992 shares during the quarter. CCC Intelligent Solutions makes up 0.5% of Jefferies Financial Group Inc.'s investment portfolio, making the stock its 17th largest position. Jefferies Financial Group Inc. owned approximately 0.96% of CCC Intelligent Solutions worth $57,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth $36,000. Banque Cantonale Vaudoise purchased a new stake in shares of CCC Intelligent Solutions in the first quarter worth about $37,000. Machina Capital S.A.S. purchased a new stake in CCC Intelligent Solutions during the first quarter valued at approximately $98,000. Valeo Financial Advisors LLC purchased a new stake in CCC Intelligent Solutions during the first quarter valued at approximately $100,000. Finally, Forum Financial Management LP purchased a new stake in CCC Intelligent Solutions during the first quarter valued at approximately $124,000. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Price Performance

CCCS stock traded up $0.36 during trading on Tuesday, hitting $9.99. The stock had a trading volume of 5,356,119 shares, compared to its average volume of 7,468,117. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The stock has a market capitalization of $6.58 billion, a P/E ratio of 499.50 and a beta of 0.74. The company's 50-day moving average price is $9.40 and its two-hundred day moving average price is $9.53.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $260.45 million for the quarter, compared to analysts' expectations of $256.21 million. During the same period in the previous year, the firm posted $0.09 EPS. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CCCS shares. 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 report on Wednesday, May 7th. The Goldman Sachs Group lowered their price objective on 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. Barrington Research reissued an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday. Morgan Stanley reduced their target price 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, Barclays lifted their price objective on CCC Intelligent Solutions from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday. 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.com, CCC Intelligent Solutions currently has an average rating of "Hold" and a consensus price target of $12.07.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $8.54 per share, with a total value of $854,000.00. Following the completion of the acquisition, the director owned 213,429 shares in the company, valued at $1,822,683.66. This trade represents a 88.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Timothy A. Welsh bought 100,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were acquired at an average price of $9.03 per share, with a total value of $903,000.00. Following the transaction, the insider owned 168,472 shares of the company's stock, valued at $1,521,302.16. The trade was a 146.05% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 60,005,302 shares of company stock valued at $544,851,748 over the last ninety days. Company 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.