Moody National Bank Trust Division Reduces Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Moody National Bank Trust Division lowered its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCSFree Report) by 25.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 38,365 shares of the company’s stock after selling 13,050 shares during the quarter. Moody National Bank Trust Division’s holdings in CCC Intelligent Solutions were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Ghisallo Capital Management LLC purchased a new stake in CCC Intelligent Solutions during the second quarter valued at approximately $132,917,000. Massachusetts Financial Services Co. MA bought a new stake in shares of CCC Intelligent Solutions during the 2nd quarter valued at $70,844,000. Wasatch Advisors LP increased its stake in shares of CCC Intelligent Solutions by 49.1% in the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after purchasing an additional 4,716,587 shares in the last quarter. Dragoneer Investment Group LLC lifted its position in CCC Intelligent Solutions by 31.5% during the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock valued at $176,704,000 after purchasing an additional 3,809,200 shares in the last quarter. Finally, Adero Partners LLC grew its holdings in CCC Intelligent Solutions by 118.5% during the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after purchasing an additional 3,135,650 shares during the period. Institutional investors own 95.79% of the company’s stock.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Jo Prigge sold 2,489 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total transaction of $29,868.00. Following the sale, the insider now owns 97,268 shares in the company, valued at $1,167,216. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock valued at $5,390,863 in the last ninety days. Corporate insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Performance

CCCS opened at $10.99 on Wednesday. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 549.77, a PEG ratio of 6.68 and a beta of 0.72. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The company has a fifty day moving average of $11.94 and a 200 day moving average of $11.21.

CCC Intelligent Solutions (NYSE:CCCSGet Free Report) last issued 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. 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 analysts’ expectations of $237.41 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions announced that its Board of Directors has initiated a share repurchase plan on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays lowered their price target on shares of 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. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Barrington Research restated 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, Piper Sandler reiterated a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average price target of $13.89.

Check Out Our Latest Stock Report on CCC Intelligent Solutions

CCC Intelligent Solutions Company Profile

(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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Institutional Ownership by Quarter for CCC Intelligent Solutions (NYSE:CCCS)

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