Legal & General Group Plc Buys 85,299 Shares of CCC Intelligent Solutions Holdings Inc. $CCCS

Legal & General Group Plc increased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 18.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,483 shares of the company’s stock after buying an additional 85,299 shares during the quarter. Legal & General Group Plc owned about 0.08% of CCC Intelligent Solutions worth $5,171,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of CCC Intelligent Solutions during the 2nd quarter valued at $25,000. Park Place Capital Corp raised its stake in CCC Intelligent Solutions by 47.6% in the second quarter. Park Place Capital Corp now owns 3,806 shares of the company’s stock valued at $36,000 after purchasing an additional 1,228 shares in the last quarter. AlphaQuest LLC bought a new stake in CCC Intelligent Solutions during the first quarter worth about $47,000. SVB Wealth LLC acquired a new stake in CCC Intelligent Solutions during the first quarter worth about $60,000. Finally, First Horizon Advisors Inc. increased its holdings in CCC Intelligent Solutions by 134.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 6,409 shares of the company’s stock valued at $60,000 after buying an additional 3,679 shares during the period. Institutional investors own 95.79% of the company’s stock.

Insider Activity

In other news, insider John Page Goodson sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $9.59, for a total value of $1,438,500.00. Following the completion of the transaction, the insider owned 157,478 shares of the company’s stock, valued at $1,510,214.02. This represents a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.03% of the stock is owned by corporate insiders.

CCC Intelligent Solutions Stock Up 3.6%

Shares of NYSE:CCCS opened at $7.56 on Friday. 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 capitalization of $4.92 billion, a PE ratio of 378.19 and a beta of 0.72. 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 $8.35 and a 200-day moving average of $9.08.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%.The business had revenue of $267.12 million for the quarter, compared to analyst estimates of $265.01 million. During the same quarter in the previous year, the company posted $0.10 EPS. CCC Intelligent Solutions’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CCCS. Piper Sandler cut their price target on shares of CCC Intelligent Solutions from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Friday, October 31st. Stifel Nicolaus lowered their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Jefferies Financial Group set a $11.00 target price on CCC Intelligent Solutions in a report on Thursday, October 30th. Barclays lowered their price target on CCC Intelligent Solutions from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of “Hold” and a consensus target price of $11.38.

About CCC Intelligent Solutions

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.