CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS – Get Rating) was the recipient of a large increase in short interest in the month of December. As of December 30th, there was short interest totalling 4,730,000 shares, an increase of 8.0% from the December 15th total of 4,380,000 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average trading volume of 938,500 shares, the days-to-cover ratio is presently 5.0 days.
In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 17,085 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $9.05, for a total value of $154,619.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP John Page Goodson sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $8.90, for a total transaction of $178,000.00. Following the completion of the transaction, the senior vice president now owns 15,435 shares of the company’s stock, valued at approximately $137,371.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mary Jo Prigge sold 17,085 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $9.05, for a total value of $154,619.25. The disclosure for this sale can be found here. In the last three months, insiders sold 245,141 shares of company stock worth $2,233,798. 6.81% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of CCC Intelligent Solutions by 12.3% in the 1st quarter. Bank of New York Mellon Corp now owns 38,517 shares of the company’s stock worth $425,000 after acquiring an additional 4,232 shares in the last quarter. Vanguard Group Inc. grew its stake in CCC Intelligent Solutions by 146.9% during the first quarter. Vanguard Group Inc. now owns 9,519,514 shares of the company’s stock worth $105,095,000 after purchasing an additional 5,663,827 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in CCC Intelligent Solutions in the first quarter worth approximately $3,146,000. Charles Schwab Investment Management Inc. lifted its stake in CCC Intelligent Solutions by 3.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 306,511 shares of the company’s stock valued at $3,384,000 after buying an additional 10,591 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of CCC Intelligent Solutions by 277.6% during the 1st quarter. Royal Bank of Canada now owns 7,696 shares of the company’s stock worth $85,000 after buying an additional 5,658 shares in the last quarter. Institutional investors and hedge funds own 96.40% of the company’s stock.
Analysts Set New Price Targets
CCC Intelligent Solutions Price Performance
CCCS stock opened at $8.87 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.76 and a current ratio of 2.76. CCC Intelligent Solutions has a 52-week low of $7.41 and a 52-week high of $11.54. The company has a market capitalization of $5.51 billion, a P/E ratio of -221.69, a PEG ratio of 1.13 and a beta of 0.74. The company has a fifty day moving average price of $8.78 and a 200-day moving average price of $9.11.
CCC Intelligent Solutions (NYSE:CCCS – Get Rating) last announced its earnings results on Friday, November 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $198.73 million for the quarter, compared to analyst estimates of $195.11 million. CCC Intelligent Solutions had a positive return on equity of 9.38% and a negative net margin of 2.68%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.26) earnings per share. As a group, equities analysts expect that CCC Intelligent Solutions will post 0.19 EPS for the current year.
About CCC Intelligent Solutions
CCC Intelligent Solutions Holdings Inc provides cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. It SaaS platform digitizes mission-critical AI-enabled workflows, facilitates commerce, and connects businesses across the insurance economy, including insurance carriers, collision repairers, parts suppliers, automotive manufactures, financial institution, and others.
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