Githesh Ramamurthy Sells 1,000,000 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCSGet Free Report) insider Githesh Ramamurthy sold 1,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $11.86, for a total transaction of $11,860,000.00. Following the transaction, the insider now owns 6,463,840 shares of the company’s stock, valued at $76,661,142.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $12.01 on Friday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.36 and a fifty-two week high of $13.41. The firm’s 50 day moving average price is $11.45 and its 200 day moving average price is $11.53. The company has a market cap of $7.26 billion, a P/E ratio of -57.19 and a beta of 0.61. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.43.

CCC Intelligent Solutions (NYSE:CCCSGet Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $228.60 million during the quarter, compared to analyst estimates of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. On average, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CCC Intelligent Solutions

Large investors have recently added to or reduced their stakes in the business. Gotham Asset Management LLC lifted its position in CCC Intelligent Solutions by 16.4% during the third quarter. Gotham Asset Management LLC now owns 85,976 shares of the company’s stock valued at $1,148,000 after buying an additional 12,112 shares in the last quarter. Invesco Ltd. grew its position in shares of CCC Intelligent Solutions by 19.2% during the third quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock worth $104,437,000 after acquiring an additional 1,260,457 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in CCC Intelligent Solutions in the 3rd quarter valued at about $8,694,000. Ghisallo Capital Management LLC bought a new position in CCC Intelligent Solutions in the 2nd quarter valued at about $15,578,000. Finally, Alaska Permanent Fund Corp lifted its holdings in CCC Intelligent Solutions by 194.6% in the 3rd quarter. Alaska Permanent Fund Corp now owns 407,193 shares of the company’s stock valued at $5,436,000 after acquiring an additional 268,956 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Barclays upped their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Thursday, February 29th. Morgan Stanley started coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $13.00 price target on the stock. Finally, Evercore ISI boosted their price target on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.63.

View Our Latest Analysis on CCC Intelligent Solutions

CCC Intelligent Solutions Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for CCC Intelligent Solutions (NYSE:CCCS)

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