London Co. of Virginia Boosts Stock Position in CCC Intelligent Solutions Holdings Inc. $CCCS

London Co. of Virginia raised its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 7.1% in the second quarter, Holdings Channel reports. The firm owned 3,367,157 shares of the company’s stock after purchasing an additional 223,325 shares during the period. London Co. of Virginia’s holdings in CCC Intelligent Solutions were worth $31,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of CCC Intelligent Solutions in the 2nd quarter worth about $59,755,000. Artisan Partners Limited Partnership increased its holdings in CCC Intelligent Solutions by 23.9% during the second quarter. Artisan Partners Limited Partnership now owns 31,055,604 shares of the company’s stock worth $292,233,000 after buying an additional 5,991,997 shares during the last quarter. Duquesne Family Office LLC bought a new stake in CCC Intelligent Solutions in the first quarter worth about $50,523,000. Alfreton Capital LLP boosted its stake in CCC Intelligent Solutions by 381.0% in the second quarter. Alfreton Capital LLP now owns 7,000,000 shares of the company’s stock valued at $65,870,000 after acquiring an additional 5,544,792 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of CCC Intelligent Solutions by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company’s stock valued at $510,114,000 after acquiring an additional 5,103,835 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Piper Sandler lowered their target price on CCC Intelligent Solutions from $10.00 to $9.50 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Barclays cut their price target on CCC Intelligent Solutions from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, October 27th. Finally, Jefferies Financial Group set a $11.00 price objective on shares of CCC Intelligent Solutions in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.38.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $7.22 on Friday. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The firm has a market capitalization of $4.70 billion, a PE ratio of 361.18 and a beta of 0.72. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a 50-day simple moving average of $8.12 and a two-hundred day simple moving average of $9.02.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $267.12 million during the quarter, compared to analyst estimates of $265.01 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.10 earnings per share. On average, equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In related news, insider John Page Goodson sold 150,000 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $9.59, for a total value of $1,438,500.00. Following the sale, the insider owned 157,478 shares in the company, valued at approximately $1,510,214.02. This trade represents a 48.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.03% of the company’s stock.

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.