Insider Selling: CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Insider Sells 80,724 Shares of Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) insider Mary Jo Prigge sold 80,724 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $12.52, for a total transaction of $1,010,664.48. Following the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at approximately $1,217,795.36. This trade represents a 45.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mary Jo Prigge also recently made the following trade(s):

• On Monday, November 25th, Mary Jo Prigge sold 19,276 shares of CCC Intelligent Solutions stock. The shares were sold at an average price of $12.67, for a total value of $244,226.92.
• On Wednesday, November 20th, Mary Jo Prigge sold 97,511 shares of CCC Intelligent Solutions stock. The shares were sold at an average price of $12.01, for a total value of $1,171,107.11.
• On Wednesday, November 13th, Mary Jo Prigge sold 2,489 shares of CCC Intelligent Solutions stock. The stock was sold at an average price of $12.00, for a total value of $29,868.00.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS traded down $0.12 during midday trading on Tuesday, hitting $12.62. The stock had a trading volume of 2,531,651 shares, compared to its average volume of 3,425,426. 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 $11.14 and a 200-day simple moving average of $11.06. The company has a market capitalization of $7.89 billion, a PE ratio of 631.32, a P/E/G ratio of 6.87 and a beta of 0.63. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.83.

CCC Intelligent Solutions (NYSE:CCCS) last announced its earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. On average, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

CCCS has been the topic of several recent research reports. Barclays lowered their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Bank of America started coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Barrington Research reissued an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Finally, Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of CCC Intelligent Solutions by 17.7% in the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after purchasing an additional 4,225,920 shares during the period. American International Group Inc. grew its stake in shares of CCC Intelligent Solutions by 68.6% in the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares during the period. Teca Partners LP increased its holdings in shares of CCC Intelligent Solutions by 46.3% during the 1st quarter. Teca Partners LP now owns 1,938,415 shares of the company’s stock worth $23,183,000 after buying an additional 613,070 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of CCC Intelligent Solutions by 63.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 169,261 shares of the company’s stock valued at $2,025,000 after buying an additional 65,743 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of CCC Intelligent Solutions during the 1st quarter valued at approximately $398,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.