Oppenheimer Asset Management Inc. Purchases 61,660 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Oppenheimer Asset Management Inc. grew its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 12.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 558,595 shares of the company’s stock after acquiring an additional 61,660 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.09% of CCC Intelligent Solutions worth $6,172,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in CCC Intelligent Solutions by 17.7% in the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after acquiring an additional 4,225,920 shares during the period. Principal Financial Group Inc. grew its stake in shares of CCC Intelligent Solutions by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock valued at $292,654,000 after purchasing an additional 1,234,281 shares during the period. Dragoneer Investment Group LLC raised its holdings in shares of CCC Intelligent Solutions by 31.5% in the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after buying an additional 3,809,200 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of CCC Intelligent Solutions by 7.4% during the 1st quarter. Janus Henderson Group PLC now owns 12,469,424 shares of the company’s stock worth $149,133,000 after buying an additional 857,110 shares during the period. Finally, Ghisallo Capital Management LLC acquired a new stake in CCC Intelligent Solutions in the 2nd quarter valued at $132,917,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Performance

CCCS stock opened at $11.84 on Friday. The stock has a market capitalization of $7.41 billion, a PE ratio of 592.30, a price-to-earnings-growth ratio of 6.60 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company has a 50 day moving average price of $10.93 and a 200 day moving average price of $10.99. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.68.

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, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate 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 was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCCS. Barrington Research reissued an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. JPMorgan Chase & Co. cut their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Jefferies Financial Group reduced their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $14.00 to $15.00 in a report on Wednesday. Finally, Barclays reduced their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, CCC Intelligent Solutions has a consensus rating of “Moderate Buy” and an average price target of $13.78.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the sale, the insider now directly owns 30,172 shares in the company, valued at approximately $324,349. This trade represents a 49.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Githesh Ramamurthy sold 8,805 shares of CCC Intelligent Solutions stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.50, for a total transaction 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. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,175 shares of company stock worth $520,746 in the last three months. Insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions 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.