Insider Selling: CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Insider Sells 57,619 Shares of Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) insider Githesh Ramamurthy sold 57,619 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total value of $663,770.88. Following the sale, the insider now directly owns 6,463,840 shares in the company, valued at approximately $74,463,436.80. The sale was disclosed in a legal 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 shares were sold at an average price of $11.52, for a total value of $3,421.44.
• On Wednesday, March 20th, Githesh Ramamurthy sold 1,000,000 shares of CCC Intelligent Solutions stock. The shares were sold at an average price of $11.86, for a total value of $11,860,000.00.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS opened at $11.50 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -54.76 and a beta of 0.62. The stock’s fifty day simple moving average is $11.75 and its 200 day simple moving average is $11.51. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.42 and a 52-week high of $13.41.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in CCC Intelligent Solutions by 11.2% in the first quarter. Fifth Third Bancorp now owns 28,290 shares of the company’s stock valued at $338,000 after purchasing an additional 2,858 shares in the last quarter. Seven Grand Managers LLC purchased a new position in CCC Intelligent Solutions in the first quarter valued at about $4,784,000. Raymond James & Associates grew its stake in CCC Intelligent Solutions by 41.5% in the first quarter. Raymond James & Associates now owns 787,408 shares of the company’s stock valued at $9,417,000 after purchasing an additional 230,852 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in CCC Intelligent Solutions by 104.1% in the first quarter. Maryland State Retirement & Pension System now owns 26,562 shares of the company’s stock valued at $306,000 after purchasing an additional 13,548 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on CCCS shares. Barclays lifted their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Citigroup reissued a “buy” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Piper Sandler boosted their price objective on CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Evercore ISI boosted their price objective on CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Finally, Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.