Amalgamated Bank Grows Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Amalgamated Bank raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,885 shares of the company’s stock after purchasing an additional 1,163 shares during the quarter. Amalgamated Bank’s holdings in CCC Intelligent Solutions were worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CCCS. GAMMA Investing LLC increased its position in shares of CCC Intelligent Solutions by 644.2% during the first quarter. GAMMA Investing LLC now owns 24,878 shares of the company’s stock worth $225,000 after acquiring an additional 21,535 shares during the last quarter. KBC Group NV increased its position in shares of CCC Intelligent Solutions by 26.0% during the first quarter. KBC Group NV now owns 20,261 shares of the company’s stock worth $183,000 after acquiring an additional 4,186 shares during the last quarter. Fifth Third Bancorp increased its position in shares of CCC Intelligent Solutions by 35.7% during the first quarter. Fifth Third Bancorp now owns 41,678 shares of the company’s stock worth $376,000 after acquiring an additional 10,957 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in CCC Intelligent Solutions in the fourth quarter valued at about $1,699,000. Finally, Ameriprise Financial Inc. increased its holdings in CCC Intelligent Solutions by 42.3% in the fourth quarter. Ameriprise Financial Inc. now owns 986,831 shares of the company’s stock valued at $11,576,000 after buying an additional 293,355 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock opened at $9.54 on Friday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $9.12 and a two-hundred day moving average of $9.74. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. The company has a market cap of $6.29 billion, a P/E ratio of 477.24 and a beta of 0.74.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. During the same period in the previous year, the firm posted $0.09 earnings per share. CCC Intelligent Solutions’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

CCCS has been the subject of several research analyst reports. Barclays lowered their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Piper Sandler lowered their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Morgan Stanley lowered their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $12.06.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Eric Wei sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the transaction, the director directly owned 1,562,344 shares in the company, valued at $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Crescenzo Neil E. De bought 100,000 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was bought at an average price of $8.54 per share, with a total value of $854,000.00. Following the completion of the purchase, the director owned 213,429 shares of the company’s stock, valued at $1,822,683.66. This trade represents a 88.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 6.03% of the company’s stock.

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.