Entropy Technologies LP Buys New Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Entropy Technologies LP has acquired 138,397 shares of CCC Intelligent Solutions Holdings Inc. for approximately $1,250,000, reflecting growing institutional interest in the company.
• Despite reporting a 12% year-over-year revenue increase and exceeding analyst EPS estimates, CCC Intelligent Solutions' stock price has declined by 3% recently.
• Analyst ratings are mixed, with a range of price targets set between $9.00 and $14.00, indicating varying sentiments on the stock's future performance.

Entropy Technologies LP bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 138,397 shares of the company's stock, valued at approximately $1,250,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth about $36,000. Banque Cantonale Vaudoise bought a new stake in shares of CCC Intelligent Solutions during the 1st quarter worth about $37,000. Machina Capital S.A.S. bought a new stake in shares of CCC Intelligent Solutions during the 1st quarter worth about $98,000. Valeo Financial Advisors LLC bought a new stake in shares of CCC Intelligent Solutions during the 1st quarter worth about $100,000. Finally, Argent Trust Co bought a new stake in shares of CCC Intelligent Solutions during the 1st quarter worth about $109,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 5,302 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $9.76, for a total value of $51,747.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eric Wei sold 30,000,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the transaction, the director owned 866,345 shares in the company, valued at approximately $8,550,825.15. This trade represents a 97.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,005,302 shares of company stock worth $1,137,051,748 in the last 90 days. 6.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CCCS has been the topic of a number of research reports. 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 on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. downgraded shares of 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. Piper Sandler reiterated a "neutral" rating and issued a $10.00 target price on shares of CCC Intelligent Solutions in a report on Thursday. Barrington Research reiterated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, August 4th. Finally, Barclays boosted 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 report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $12.21.

CCC Intelligent Solutions Stock Up 0.7%

CCC Intelligent Solutions stock traded up $0.07 during trading hours on Friday, hitting $9.71. The company had a trading volume of 6,360,427 shares, compared to its average volume of 7,612,759. The firm has a market capitalization of $6.32 billion, a P/E ratio of 485.74 and a beta of 0.74. 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 firm's fifty day moving average is $9.54 and its 200-day moving average is $9.45. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $260.45 million for 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 company's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. On average, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

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.