AMI Asset Management Corp Acquires 2,174 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

AMI Asset Management Corp increased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,484 shares of the company’s stock after acquiring an additional 2,174 shares during the period. AMI Asset Management Corp’s holdings in CCC Intelligent Solutions were worth $1,085,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Baker Tilly Wealth Management LLC boosted its position in shares of CCC Intelligent Solutions by 6.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company’s stock worth $169,000 after purchasing an additional 888 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in CCC Intelligent Solutions by 6.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company’s stock worth $197,000 after acquiring an additional 960 shares in the last quarter. Amalgamated Bank grew its stake in shares of 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. Hardy Reed LLC grew its stake in shares of CCC Intelligent Solutions by 7.1% in the third quarter. Hardy Reed LLC now owns 21,540 shares of the company’s stock worth $238,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Hilltop National Bank increased its holdings in shares of CCC Intelligent Solutions by 21.3% during the fourth quarter. Hilltop National Bank now owns 8,386 shares of the company’s stock valued at $98,000 after acquiring an additional 1,474 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Up 0.8 %

CCCS stock opened at $11.20 on Tuesday. The business’s 50-day moving average is $11.93 and its two-hundred day moving average is $11.21. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 74.67 and a beta of 0.72. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $238.48 million during the quarter, compared to the consensus estimate 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 for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

CCC Intelligent Solutions announced that its board has initiated a share buyback plan on Friday, December 20th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CCCS has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. 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 report on Wednesday, November 13th. JPMorgan Chase & Co. lifted 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 report on Wednesday, December 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and a consensus target price of $13.89.

Insider Activity

In related news, CAO Rodney Christo sold 75,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were 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 Securities & Exchange Commission, which is available at this link. Also, insider Githesh Ramamurthy sold 8,805 shares of CCC Intelligent Solutions stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.50, for a total transaction of $101,257.50. Following the completion of the sale, the insider now owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 over the last ninety days. Corporate insiders own 6.67% of the company’s stock.

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.