Y Intercept Hong Kong Ltd Makes New $685,000 Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Y Intercept Hong Kong Ltd acquired a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 62,007 shares of the company’s stock, valued at approximately $685,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CCCS. Advisors Asset Management Inc. raised its position 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 acquiring an additional 1,729 shares in the last quarter. CWM LLC raised its holdings in shares of CCC Intelligent Solutions by 352.6% in the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after purchasing an additional 2,419 shares during the period. Huntington National Bank raised its holdings in shares of CCC Intelligent Solutions by 37.6% in the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after purchasing an additional 1,599 shares during the period. Marco Investment Management LLC acquired a new stake in CCC Intelligent Solutions in the 3rd quarter valued at about $113,000. Finally, KBC Group NV grew its holdings in CCC Intelligent Solutions by 81.7% during the third quarter. KBC Group NV now owns 10,314 shares of the company’s stock worth $114,000 after purchasing an additional 4,637 shares during the period. 95.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CCCS shares. Bank of America initiated coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective on the stock. Barclays dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.89.

CCC Intelligent Solutions Stock Down 0.9 %

CCCS opened at $12.13 on Friday. The stock has a fifty day moving average of $11.60 and a 200-day moving average of $11.18. The company has a market capitalization of $7.59 billion, a P/E ratio of 606.80, a P/E/G ratio of 6.80 and a beta of 0.71. 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.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 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 $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter in the previous year, the company earned $0.03 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Insider Activity

In related news, CAO Rodney Christo sold 75,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.80, for a total value of $885,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mary Jo Prigge sold 97,511 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $12.01, for a total transaction of $1,171,107.11. Following the sale, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,168,188.68. This represents a 50.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 443,153 shares of company stock worth $5,390,863. Corporate insiders own 6.67% 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.