Wrapmanager Inc. Boosts Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wrapmanager Inc. boosted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 44.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,741 shares of the company’s stock after purchasing an additional 10,405 shares during the quarter. Wrapmanager Inc.’s holdings in CCC Intelligent Solutions were worth $373,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Ghisallo Capital Management LLC purchased a new position in shares of CCC Intelligent Solutions during the second quarter valued at approximately $132,917,000. Principal Financial Group Inc. grew its position in CCC Intelligent Solutions by 37.8% in the 2nd quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock valued at $280,530,000 after acquiring an additional 6,921,161 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in CCC Intelligent Solutions in the second quarter worth $70,844,000. Van Berkom & Associates Inc. bought a new stake in shares of CCC Intelligent Solutions during the second quarter worth $61,605,000. Finally, Vanguard Group Inc. boosted its stake in shares of CCC Intelligent Solutions by 17.7% during the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after purchasing an additional 4,225,920 shares during the period. Institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Price Performance

Shares of CCCS stock opened at $11.78 on Wednesday. The stock’s 50-day moving average is $11.01 and its 200 day moving average is $11.01. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $9.79 and a 1-year high of $12.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company has a market cap of $7.37 billion, a P/E ratio of 589.00, a PEG ratio of 6.76 and a beta of 0.63.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $238.48 million for 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 revenue 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 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Rodney Christo sold 75,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total transaction of $107,502.00. Following the completion of the sale, the insider now owns 4,798,040 shares of the company’s stock, valued at $55,177,460. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,642 shares of company stock valued at $1,123,628. 6.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several recent analyst reports. Jefferies Financial Group reduced their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Barrington Research reaffirmed 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. dropped their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Bank of America started coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price for the company. Finally, Barclays cut 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, CCC Intelligent Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

CCC Intelligent Solutions 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.