TD Asset Management Inc Acquires 474,162 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• TD Asset Management Inc increased its holdings in CCC Intelligent Solutions Holdings Inc. by 10.7%, now owning approximately 4.9 million shares valued at $44.41 million.
• The company reported $251.57 million in revenue for the last quarter, showing a year-over-year increase of 10.7%, and matched the consensus earnings estimate of $0.08 EPS.
• An insider transaction saw Director Lauren Young selling 30 million shares for approximately $272.4 million, significantly reducing their ownership in the company.

TD Asset Management Inc grew its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,918,274 shares of the company's stock after acquiring an additional 474,162 shares during the period. TD Asset Management Inc owned about 0.75% of CCC Intelligent Solutions worth $44,412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its position in CCC Intelligent Solutions by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock worth $807,807,000 after acquiring an additional 4,060,284 shares during the last quarter. Vanguard Group Inc. grew its stake in CCC Intelligent Solutions by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock worth $602,772,000 after buying an additional 847,334 shares during the period. Principal Financial Group Inc. grew its stake in CCC Intelligent Solutions by 1.4% during the first quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock worth $246,551,000 after buying an additional 363,944 shares during the period. Brown Advisory Inc. boosted its stake in shares of CCC Intelligent Solutions by 30.7% in the first quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock valued at $165,672,000 after purchasing an additional 4,313,296 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of CCC Intelligent Solutions by 1.5% in the first quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company's stock valued at $112,327,000 after purchasing an additional 178,330 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Activity

In other news, insider Timothy A. Welsh purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, May 14th. The shares were purchased at an average cost of $9.03 per share, for a total transaction of $903,000.00. Following the completion of the transaction, the insider directly owned 168,472 shares in the company, valued at approximately $1,521,302.16. This represents a 146.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Young sold 30,000,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the completion of the transaction, the director directly owned 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. This represents a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Price Performance

Shares of CCC Intelligent Solutions stock traded up $0.36 during trading on Friday, hitting $10.03. 11,550,664 shares of the company's stock traded hands, compared to its average volume of 7,435,285. 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 price is $9.35 and its 200 day moving average price is $9.57. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The company has a market cap of $6.61 billion, a PE ratio of 502.00 and a beta of 0.74.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its earnings results 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. 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 analyst estimates of $256.21 million. During the same period in the previous year, the business earned $0.09 EPS. The firm's revenue was up 12.0% on a year-over-year basis. Analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler cut 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 report on Wednesday, May 7th. 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. Barclays upped their price target on shares of CCC Intelligent Solutions from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday. Barrington Research reiterated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday. 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 note on Wednesday, April 16th. One investment 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. Based on data from MarketBeat.com, CCC Intelligent Solutions presently has an average rating of "Hold" and a consensus price target of $12.07.

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.