Swiss National Bank Raises Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Swiss National Bank increased its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 30.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 788,900 shares of the company’s stock after purchasing an additional 184,900 shares during the period. Swiss National Bank’s holdings in CCC Intelligent Solutions were worth $8,717,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. American International Group Inc. boosted its stake in CCC Intelligent Solutions by 68.6% in the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares in the last quarter. CWM LLC lifted its stake in CCC Intelligent Solutions by 352.6% during the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after acquiring an additional 2,419 shares during the period. Huntington National Bank lifted its stake in CCC Intelligent Solutions by 37.6% during the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after acquiring an additional 1,599 shares during the period. KBC Group NV lifted its stake in CCC Intelligent Solutions by 81.7% during the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock valued at $114,000 after acquiring an additional 4,637 shares during the period. Finally, Quarry LP lifted its stake in CCC Intelligent Solutions by 304.0% during the 2nd quarter. Quarry LP now owns 11,219 shares of the company’s stock valued at $125,000 after acquiring an additional 8,442 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 4,798,040 shares of the company’s stock, valued at $55,177,460. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,153 shares of company stock valued at $3,195,485. 6.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on CCCS shares. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Jefferies Financial Group decreased their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Bank of America started coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 price objective for the company. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Finally, Barclays decreased 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and an average price target of $13.78.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $12.74 on Tuesday. The firm has a market cap of $7.97 billion, a PE ratio of 637.32, a PEG ratio of 6.87 and a beta of 0.63. The firm has a fifty day moving average of $11.14 and a 200 day moving average of $11.06. 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 Holdings Inc. has a one year low of $9.79 and a one year high of $12.83.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. As a group, research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

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.