Lockheed Martin Investment Management Co. Makes New $2.41 Million Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Lockheed Martin Investment Management Co. has acquired 266,442 shares of CCC Intelligent Solutions Holdings Inc., valued at approximately $2.4 million, signaling institutional interest in the company.
• Insider transactions indicate significant activity, with Director Eric Wei selling 30 million shares while Director Crescenzo Neil E. De bought 100,000 shares, highlighting shifting ownership dynamics.
• Analysts have mixed views on CCC Intelligent Solutions' stock, with price targets ranging from $9 to $14, reflecting varied expectations for the company's growth prospects.

Lockheed Martin Investment Management Co. purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 266,442 shares of the company's stock, valued at approximately $2,406,000.

Several other large investors have also modified their holdings of the stock. Quarry LP acquired a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $36,000. Banque Cantonale Vaudoise acquired a new position in shares of CCC Intelligent Solutions during the first quarter valued at approximately $37,000. Machina Capital S.A.S. acquired a new position in CCC Intelligent Solutions in the first quarter worth approximately $98,000. Valeo Financial Advisors LLC acquired a new position in CCC Intelligent Solutions in the first quarter worth approximately $100,000. Finally, Sagespring Wealth Partners LLC acquired a new position in CCC Intelligent Solutions in the fourth quarter worth approximately $133,000. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock traded up $0.12 during trading hours on Wednesday, hitting $9.46. 1,246,124 shares of the stock were exchanged, compared to its average volume of 7,555,976. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The stock has a market capitalization of $6.16 billion, a P/E ratio of 472.99 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 business's 50-day moving average is $9.49 and its two-hundred day moving average is $9.47.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $260.45 million for the quarter, compared to analyst estimates of $256.21 million. During the same period in the prior year, the business earned $0.09 earnings per share. CCC Intelligent Solutions's quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

CCCS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of 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. Barclays boosted their price target on shares of CCC Intelligent Solutions from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Piper Sandler reduced their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley cut their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.07.

Insider Buying and Selling at CCC Intelligent Solutions

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 value of $296,100,000.00. Following the transaction, the director directly owned 866,345 shares of the company's stock, valued at approximately $8,550,825.15. This trade represents a 97.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 5,302 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $9.76, for a total transaction of $51,747.52. The disclosure for this sale can be found here. Insiders sold a total of 120,005,302 shares of company stock valued at $1,137,051,748 in the last three months. Insiders own 6.03% of the company's stock.

About CCC Intelligent Solutions

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.