CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stake Boosted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH raised its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,853,183 shares of the company’s stock after buying an additional 108,510 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.30% of CCC Intelligent Solutions worth $21,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCCS. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions in the 4th quarter worth about $25,000. UMB Bank n.a. acquired a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at about $28,000. Advisors Asset Management Inc. lifted its position in shares of CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after purchasing an additional 2,479 shares during the period. Finally, Financial Management Professionals Inc. purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $54,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

CCC Intelligent Solutions Price Performance

Shares of CCC Intelligent Solutions stock opened at $11.70 on Thursday. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $9.79 and a 1-year high of $12.88. The firm has a fifty day simple moving average of $11.92 and a 200-day simple moving average of $11.22. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 585.29 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. On average, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

CCC Intelligent Solutions announced that its board has initiated a share repurchase plan on Friday, December 20th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CCCS shares. JPMorgan Chase & Co. lifted their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Barclays cut their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.89.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Rodney Christo sold 9,916 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $12.67, for a total transaction of $125,635.72. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock valued at $5,390,863 in the last 90 days. 6.67% of the stock is currently owned by insiders.

CCC Intelligent Solutions Company 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.