MQS Management LLC Acquires Shares of 59,997 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

MQS Management LLC purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 59,997 shares of the company's stock, valued at approximately $542,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. TD Private Client Wealth LLC acquired a new position in CCC Intelligent Solutions in the 4th quarter valued at approximately $31,000. Quarry LP acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $36,000. Valeo Financial Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions during the first quarter worth $100,000. Curated Wealth Partners LLC boosted its stake in CCC Intelligent Solutions by 42.1% during the first quarter. Curated Wealth Partners LLC now owns 14,268 shares of the company's stock worth $129,000 after acquiring an additional 4,224 shares in the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in CCC Intelligent Solutions during the fourth quarter worth $133,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Crescenzo Neil E. De bought 100,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the transaction, the director directly 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 legal filing with the SEC, which is available through this link. Also, insider Timothy A. Welsh acquired 100,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average price of $9.03 per share, with a total value of $903,000.00. Following the completion of the acquisition, the insider owned 168,472 shares in the company, valued at approximately $1,521,302.16. The trade was a 146.05% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Stock Performance

CCCS stock traded up $0.30 during mid-day trading on Thursday, hitting $9.84. The company had a trading volume of 6,130,361 shares, compared to its average volume of 5,474,592. The firm has a market cap of $6.49 billion, a PE ratio of 492.25 and a beta of 0.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The stock's fifty day moving average price is $9.18 and its two-hundred day moving average price is $9.68.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. On average, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCCS. The Goldman Sachs Group cut 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 research note on Wednesday, May 7th. Morgan Stanley dropped their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Barclays dropped their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler dropped their price objective 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.06.

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.