Githesh Ramamurthy Sells 57,619 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) insider Githesh Ramamurthy sold 57,619 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total transaction of $663,770.88. Following the transaction, the insider now owns 6,463,840 shares in the company, valued at approximately $74,463,436.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Githesh Ramamurthy also recently made the following trade(s):

• On Monday, April 22nd, Githesh Ramamurthy sold 297 shares of CCC Intelligent Solutions stock. The shares were sold at an average price of $11.52, for a total transaction of $3,421.44.
• On Wednesday, March 20th, Githesh Ramamurthy sold 1,000,000 shares of CCC Intelligent Solutions stock. The shares were sold at an average price of $11.86, for a total transaction of $11,860,000.00.

CCC Intelligent Solutions Trading Up 0.3 %

NYSE:CCCS opened at $11.53 on Thursday. The company’s 50 day moving average price is $11.75 and its 200-day moving average price is $11.51. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.42 and a 52 week high of $13.41. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.43. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of -54.90 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $228.60 million for the quarter, compared to the consensus estimate of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. On average, equities research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Citigroup restated a “buy” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Thursday, February 8th. Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Thursday, February 29th. Barclays upped their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Finally, Piper Sandler upped their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise raised its position in CCC Intelligent Solutions by 128.4% in the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after acquiring an additional 1,424 shares during the period. Park Place Capital Corp raised its position in CCC Intelligent Solutions by 65.9% in the fourth quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock worth $48,000 after acquiring an additional 1,659 shares during the period. Covestor Ltd raised its position in CCC Intelligent Solutions by 781.7% in the third quarter. Covestor Ltd now owns 6,895 shares of the company’s stock worth $92,000 after acquiring an additional 6,113 shares during the period. Parkside Financial Bank & Trust bought a new position in CCC Intelligent Solutions in the fourth quarter worth approximately $99,000. Finally, Coldstream Capital Management Inc. bought a new position in CCC Intelligent Solutions in the fourth quarter worth approximately $119,000. 95.79% of the stock is currently owned by institutional investors.

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.