CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) insider Timothy A. Welsh acquired 100,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the acquisition, the insider now directly owns 168,472 shares in the company, valued at $1,521,302.16. This represents a 146.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
CCC Intelligent Solutions Trading Up 1.6%
NYSE CCCS opened at $9.12 on Friday. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 456.23 and a beta of 0.76. The stock's 50 day moving average price is $8.95 and its two-hundred day moving average price is $10.51. 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 52 week low of $8.14 and a 52 week high of $12.88.
CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. As a group, analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on CCCS shares. Morgan Stanley cut their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Piper Sandler cut their price objective on 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 cut their target price on 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. Finally, Barrington Research restated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.19.
View Our Latest Stock Report on CCC Intelligent Solutions
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its position in shares of CCC Intelligent Solutions by 6.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 72,967,671 shares of the company's stock worth $658,899,000 after purchasing an additional 4,100,954 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CCC Intelligent Solutions by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company's stock worth $510,114,000 after purchasing an additional 5,103,835 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of CCC Intelligent Solutions by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock worth $246,551,000 after purchasing an additional 363,944 shares during the last quarter. Brown Advisory Inc. increased its position in shares of CCC Intelligent Solutions by 30.7% during the 1st quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock worth $165,672,000 after purchasing an additional 4,313,296 shares during the last quarter. Finally, Akre Capital Management LLC increased its holdings in shares of CCC Intelligent Solutions by 23.5% during the 1st quarter. Akre Capital Management LLC now owns 13,190,384 shares of the company's stock worth $119,109,000 after acquiring an additional 2,508,986 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.
CCC Intelligent Solutions Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
