Headlands Technologies LLC Buys 39,275 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Headlands Technologies LLC increased its stake in CCC Intelligent Solutions Holdings Inc. by 241.5% in the first quarter of 2023, acquiring a total of 55,541 shares valued at approximately $502,000.
• Insider sales in CCC Intelligent Solutions included a significant transaction by Director Lauren Young, who sold 30 million shares valued at $296.1 million, reducing her ownership by 97.19%.
• The company's stock was trading down 2.0% with a current price of $9.52, reflecting a market capitalization of $6.19 billion and a PE ratio of 476.24.

Headlands Technologies LLC grew its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 241.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,541 shares of the company's stock after purchasing an additional 39,275 shares during the quarter. Headlands Technologies LLC's holdings in CCC Intelligent Solutions were worth $502,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays increased their price objective 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. The Goldman Sachs Group reduced their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research note 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 price target on the stock. in a research note on Monday, June 23rd. Piper Sandler reduced their price target 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. Finally, Barrington Research restated an "outperform" rating and issued a $14.00 price target 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $12.07.

CCC Intelligent Solutions Trading Up 3.2%

NYSE:CCCS traded up $0.30 during mid-day trading on Wednesday, hitting $9.64. 4,346,749 shares of the company's stock were exchanged, compared to its average volume of 7,574,472. The company has a 50 day simple moving average of $9.49 and a 200-day simple moving average of $9.47. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $12.88. The firm has a market capitalization of $6.27 billion, a P/E ratio of 482.49 and a beta of 0.74.

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

Insider Activity

In other CCC Intelligent Solutions news, Director Lauren Young sold 30,000,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Wei sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the completion of the sale, the director owned 866,345 shares of the company's stock, valued at $8,550,825.15. This 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 company insiders.

CCC Intelligent Solutions Company 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.