CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Insider Sells $663,770.88 in Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) insider Githesh Ramamurthy sold 57,619 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $11.52, for a total transaction of $663,770.88. Following the completion of the transaction, the insider now owns 6,463,840 shares in the company, valued at $74,463,436.80. The sale was disclosed in a filing with the SEC, which is available through this link.

Githesh Ramamurthy also recently made the following trade(s):

• On Monday, April 22nd, Githesh Ramamurthy sold 297 shares of CCC Intelligent Solutions stock. The stock was sold at an average price of $11.52, for a total transaction of $3,421.44.
• On Wednesday, March 20th, Githesh Ramamurthy sold 1,000,000 shares of CCC Intelligent Solutions stock. The stock was sold at an average price of $11.86, for a total transaction of $11,860,000.00.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS traded up $0.04 during midday trading on Wednesday, reaching $11.53. The company had a trading volume of 2,265,282 shares, compared to its average volume of 3,216,939. The business’s 50-day simple moving average is $11.75 and its 200 day simple moving average is $11.51. The stock has a market cap of $6.97 billion, a P/E ratio of -54.71 and a beta of 0.62. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.42 and a 1 year high of $13.41. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.43.

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

Institutional Trading of CCC Intelligent Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp grew its position in CCC Intelligent Solutions by 11.2% during the first quarter. Fifth Third Bancorp now owns 28,290 shares of the company’s stock valued at $338,000 after buying an additional 2,858 shares during the period. Seven Grand Managers LLC acquired a new stake in CCC Intelligent Solutions during the first quarter valued at $4,784,000. Raymond James & Associates grew its position in CCC Intelligent Solutions by 41.5% during the first quarter. Raymond James & Associates now owns 787,408 shares of the company’s stock valued at $9,417,000 after buying an additional 230,852 shares during the period. Maryland State Retirement & Pension System grew its position in CCC Intelligent Solutions by 104.1% during the first quarter. Maryland State Retirement & Pension System now owns 26,562 shares of the company’s stock valued at $306,000 after buying an additional 13,548 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of CCC Intelligent Solutions by 59.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,312,688 shares of the company’s stock valued at $123,340,000 after purchasing an additional 3,861,020 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCCS. Citigroup reaffirmed a “buy” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Thursday, February 8th. Piper Sandler increased their target price 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 increased their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Barrington Research reissued an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Thursday, February 29th. Finally, Evercore ISI increased their target price on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average target price of $13.63.

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.