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

Financial Management Professionals Inc. bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the 4th quarter, Holdings Channel reports. The firm bought 4,605 shares of the company’s stock, valued at approximately $54,000.

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

CCC Intelligent Solutions Stock Up 0.8 %

CCCS opened at $11.20 on Monday. The company has a market cap of $7.01 billion, a PE ratio of 560.28 and a beta of 0.72. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.88. The company has a 50-day moving average price of $11.93 and a 200 day moving average price of $11.21. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions declared that its Board of Directors has approved a share buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 2,489 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the sale, the insider now owns 97,268 shares of the company’s stock, valued at $1,167,216. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Githesh Ramamurthy sold 8,805 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.50, for a total value of $101,257.50. Following the transaction, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock worth $5,390,863 in the last three months. 6.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.