Financial Management Professionals Inc. Takes $54,000 Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Financial Management Professionals Inc. bought a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,605 shares of the company’s stock, valued at approximately $54,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in shares of CCC Intelligent Solutions by 193.0% during the fourth quarter. Park Avenue Securities LLC now owns 83,335 shares of the company’s stock worth $978,000 after acquiring an additional 54,894 shares during the last quarter. Oak Thistle LLC bought a new position in CCC Intelligent Solutions during the 4th quarter worth approximately $298,000. Eagle Bay Advisors LLC bought a new position in CCC Intelligent Solutions during the 4th quarter worth approximately $25,000. Hilltop National Bank lifted its position in shares of CCC Intelligent Solutions by 21.3% in the 4th quarter. Hilltop National Bank now owns 8,386 shares of the company’s stock worth $98,000 after purchasing an additional 1,474 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its stake in shares of CCC Intelligent Solutions by 6.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company’s stock valued at $169,000 after purchasing an additional 888 shares during the last quarter. 95.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Piper Sandler restated a “neutral” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Barclays cut their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.89.

CCC Intelligent Solutions Price Performance

CCCS opened at $11.20 on Monday. The firm has a market cap of $7.01 billion, a P/E ratio of 560.28 and a beta of 0.72. 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 fifty-two week low of $9.79 and a fifty-two week high of $12.88. The firm has a 50-day moving average of $11.93 and a 200 day moving average of $11.21.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. During the same period in the previous year, the company posted $0.03 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

CCC Intelligent Solutions declared that its board has initiated a share repurchase plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Crescenzo Neil E. De acquired 100,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the sale, the insider now directly owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 in the last three months. 6.67% of the stock is currently owned by corporate insiders.

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.