Norris Perne & French LLP MI Acquires 37,402 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Norris Perne & French LLP MI lifted its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 11.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 378,769 shares of the company’s stock after buying an additional 37,402 shares during the period. Norris Perne & French LLP MI’s holdings in CCC Intelligent Solutions were worth $4,443,000 at the end of the most recent reporting period.

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

Insider Activity at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the transaction, the insider now owns 4,798,040 shares of the company’s stock, valued at $55,177,460. This represents a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mary Jo Prigge sold 2,489 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total transaction of $29,868.00. Following the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,167,216. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,153 shares of company stock valued at $5,390,863. Corporate insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Trading Up 0.4 %

Shares of CCCS stock opened at $11.18 on Friday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The stock’s fifty day moving average is $11.85 and its two-hundred day moving average is $11.22. The firm has a market capitalization of $7.34 billion, a P/E ratio of 74.20 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. Research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

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

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.