Vanguard Group Inc. Purchases 5,103,835 Shares of CCC Intelligent Solutions Holdings Inc. $CCCS

Key Points

• Vanguard Group Inc. increased its stake in CCC Intelligent Solutions Holdings Inc. by 9.9% in Q1, now holding approximately $510.11 million worth of shares.
• Insider transactions revealed that Directors Eric Wei and Lauren Young collectively sold 60 million shares at an average price of $9.87, marking a 97.19% decrease in their holdings.
• Wall Street analysts have mixed ratings for CCC Intelligent Solutions, with a consensus rating of "Hold" and an average price target of $12.21.

Vanguard Group Inc. raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 9.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,491,007 shares of the company's stock after acquiring an additional 5,103,835 shares during the period. Vanguard Group Inc. owned approximately 8.57% of CCC Intelligent Solutions worth $510,114,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Quarry LP acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter worth $36,000. Banque Cantonale Vaudoise bought a new stake in shares of CCC Intelligent Solutions during the first quarter worth $37,000. Machina Capital S.A.S. acquired a new stake in shares of CCC Intelligent Solutions during the 1st quarter valued at $98,000. Valeo Financial Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions during the 1st quarter valued at $100,000. Finally, Argent Trust Co bought a new stake in CCC Intelligent Solutions during the 1st quarter worth $109,000. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Stock Up 0.3%

Shares of NYSE:CCCS traded up $0.03 during trading on Tuesday, reaching $9.75. 577,969 shares of the stock were exchanged, compared to its average volume of 7,555,557. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The stock has a fifty day moving average of $9.55 and a two-hundred day moving average of $9.41. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 488.49 and a beta of 0.74. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.14 and a 1-year high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $260.45 million during the quarter, compared to the consensus estimate of $256.21 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. Research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCCS has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective for the company. in a research note on Monday, June 23rd. Piper Sandler reaffirmed a "neutral" rating and set a $10.00 target price on shares of CCC Intelligent Solutions in a report on Thursday, August 14th. 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. Barclays lifted their target price on shares of CCC Intelligent Solutions from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, Barrington Research reissued an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, August 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.21.

Insider Activity

In other news, Director Lauren Young sold 30,000,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $9.87, for a total value of $296,100,000.00. Following the completion of the transaction, the director directly owned 866,345 shares of the company's stock, valued at $8,550,825.15. This represents a 97.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the acquisition, the director directly 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. In the last 90 days, insiders have sold 60,005,302 shares of company stock worth $592,251,748. 6.03% of the stock is owned by 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.