CCC Intelligent Solutions (NYSE:CCCS) Sees Strong Trading Volume

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 2,486,518 shares were traded during trading, a decline of 19% from the previous session's volume of 3,077,414 shares.The stock last traded at $11.54 and had previously closed at $11.78.

Analyst Ratings Changes

Several equities research analysts have issued reports on CCCS shares. Piper Sandler boosted their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. Barclays boosted their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, February 29th. Morgan Stanley started coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, December 12th. They issued an "equal weight" rating and a $13.00 price objective for the company. Citigroup reissued a "buy" rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Thursday, February 8th. Finally, Evercore ISI boosted their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an "outperform" rating in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of "Moderate Buy" and an average target price of $13.63.

CCC Intelligent Solutions Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a market cap of $7.05 billion, a P/E ratio of -55.52 and a beta of 0.62. The firm's fifty day moving average price is $11.62 and its 200 day moving average price is $11.57.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $228.60 million during the quarter, compared to the consensus estimate of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. Sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Marc Fredman sold 324,952 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $12.15, for a total transaction of $3,948,166.80. Following the completion of the transaction, the senior vice president now owns 212,542 shares in the company, valued at approximately $2,582,385.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CCC Intelligent Solutions news, SVP Marc Fredman sold 324,952 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $12.15, for a total transaction of $3,948,166.80. Following the transaction, the senior vice president now owns 212,542 shares in the company, valued at approximately $2,582,385.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director International L.P. Advent sold 22,000,000 shares of the firm's stock in a transaction on Monday, January 8th. The stock was sold at an average price of $10.47, for a total transaction of $230,340,000.00. Following the completion of the transaction, the director now directly owns 6,119,048 shares of the company's stock, valued at approximately $64,066,432.56. The disclosure for this sale can be found here. Insiders sold a total of 64,999,642 shares of company stock worth $718,660,438 in the last 90 days. 6.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CCCS. T. Rowe Price Investment Management Inc. increased its stake in shares of CCC Intelligent Solutions by 0.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 29,864,967 shares of the company's stock worth $259,826,000 after acquiring an additional 108,949 shares during the period. Vanguard Group Inc. increased its stake in shares of CCC Intelligent Solutions by 34.0% in the fourth quarter. Vanguard Group Inc. now owns 23,809,077 shares of the company's stock worth $271,185,000 after acquiring an additional 6,043,282 shares during the period. Brown Advisory Inc. increased its stake in shares of CCC Intelligent Solutions by 128.7% in the fourth quarter. Brown Advisory Inc. now owns 10,436,353 shares of the company's stock worth $118,870,000 after acquiring an additional 5,873,823 shares during the period. Invesco Ltd. increased its stake in shares of CCC Intelligent Solutions by 19.2% in the third quarter. Invesco Ltd. now owns 7,822,986 shares of the company's stock worth $104,437,000 after acquiring an additional 1,260,457 shares during the period. Finally, Riverbridge Partners LLC increased its stake in shares of CCC Intelligent Solutions by 50.9% in the fourth quarter. Riverbridge Partners LLC now owns 7,378,442 shares of the company's stock worth $84,040,000 after acquiring an additional 2,487,578 shares during the period. Hedge funds and other institutional investors own 95.79% 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.