CCC Intelligent Solutions (NYSE:CCCS) Sees Large Volume Increase – Should You Buy?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) saw unusually-strong trading volume on Wednesday . Approximately 5,469,432 shares were traded during mid-day trading, an increase of 61% from the previous session’s volume of 3,399,246 shares.The stock last traded at $12.07 and had previously closed at $12.10.

Wall Street Analyst Weigh In

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

CCC Intelligent Solutions Price Performance

The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 588.29, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. 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 business’s fifty day simple moving average is $11.66 and its 200 day simple moving average is $11.19.

CCC Intelligent Solutions (NYSE:CCCS) last announced 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. The company had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. Research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Rodney Christo sold 9,916 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $12.67, for a total value of $125,635.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $11.50, for a total transaction of $107,502.00. Following the transaction, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock valued at $5,390,863 over the last 90 days. 6.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC boosted its holdings in CCC Intelligent Solutions by 31.5% during the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after buying an additional 3,809,200 shares in the last quarter. Adero Partners LLC grew its holdings in shares of CCC Intelligent Solutions by 118.5% in the 3rd quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock worth $63,879,000 after acquiring an additional 3,135,650 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of CCC Intelligent Solutions by 45.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock worth $1,824,000 after purchasing an additional 51,607 shares during the period. Element Capital Management LLC acquired a new position in shares of CCC Intelligent Solutions in the 2nd quarter valued at $7,941,000. Finally, Teca Partners LP increased its stake in CCC Intelligent Solutions by 21.8% in the 2nd quarter. Teca Partners LP now owns 2,361,183 shares of the company’s stock worth $26,233,000 after purchasing an additional 422,768 shares in the last quarter. 95.79% of the stock is owned by institutional investors.

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.