AMI Asset Management Corp Makes New $1.14 Million Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

AMI Asset Management Corp purchased a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the second quarter, according to its most recent filing with the SEC. The fund purchased 102,535 shares of the company’s stock, valued at approximately $1,139,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise increased its stake in CCC Intelligent Solutions by 128.4% during the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock valued at $30,000 after purchasing an additional 1,424 shares during the last quarter. American International Group Inc. raised its stake in CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after acquiring an additional 1,135 shares during the period. CWM LLC lifted its holdings in CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after acquiring an additional 2,419 shares during the last quarter. Twin Tree Management LP bought a new position in CCC Intelligent Solutions in the first quarter worth about $53,000. Finally, Parkside Financial Bank & Trust acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at approximately $99,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director International L.P. Advent sold 41,622,992 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $11.43, for a total value of $475,750,798.56. Following the completion of the sale, the director now owns 3,812,112 shares in the company, valued at $43,572,440.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other CCC Intelligent Solutions news, insider Brian Herb sold 20,887 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $213,882.88. Following the transaction, the insider now owns 217,872 shares in the company, valued at $2,231,009.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director International L.P. Advent sold 41,622,992 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $11.43, for a total value of $475,750,798.56. Following the sale, the director now owns 3,812,112 shares of the company’s stock, valued at approximately $43,572,440.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,915,603 shares of company stock worth $761,298,064. 6.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CCCS shares. Bank of America started coverage on CCC Intelligent Solutions in a report on Tuesday. They issued a “buy” rating and a $15.00 price target on the stock. Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average target price of $13.78.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS traded up $0.14 during midday trading on Friday, reaching $10.94. 1,946,056 shares of the company traded hands, compared to its average volume of 3,672,414. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -52.10 and a beta of 0.62. The stock has a 50-day moving average price of $10.92 and a 200 day moving average price of $11.31. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $13.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.53.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $232.60 million for the quarter, compared to the consensus estimate of $230.16 million. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. CCC Intelligent Solutions’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. Sell-side analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.15 earnings per share for the current fiscal year.

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.