Mary Jo Prigge Sells 2,489 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) insider Mary Jo Prigge sold 2,489 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the sale, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,167,216. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

CCC Intelligent Solutions Price Performance

CCCS traded down $0.07 during trading on Friday, reaching $11.77. 4,812,372 shares of the company were exchanged, compared to its average volume of 3,431,915. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 592.50, a P/E/G ratio of 6.67 and a beta of 0.63. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.68. The company’s 50-day moving average is $10.93 and its two-hundred day moving average is $10.99.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results 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 return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CCC Intelligent Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. boosted its position in CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares in the last quarter. Amalgamated Bank lifted its stake in CCC Intelligent Solutions by 5.8% in the third quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock worth $262,000 after acquiring an additional 1,299 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in CCC Intelligent Solutions by 2.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock valued at $745,000 after acquiring an additional 1,390 shares in the last quarter. Hardy Reed LLC increased its stake in CCC Intelligent Solutions by 7.1% in the 3rd quarter. Hardy Reed LLC now owns 21,540 shares of the company’s stock valued at $238,000 after buying an additional 1,430 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in CCC Intelligent Solutions by 15.2% during the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares during the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCCS. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Barclays cut 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. Bank of America initiated coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target for the company. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $14.00 to $15.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.78.

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.