Entropy Technologies LP has made a significant investment by acquiring a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS). According to its most recent 13F filing with the Securities and Exchange Commission (SEC), the institutional investor purchased 138,397 shares of CCC Intelligent Solutions, valued at approximately $1.25 million. This move highlights growing interest from institutional investors in the company, which provides technology solutions for the property and casualty insurance sector.
In addition to Entropy Technologies, several other institutional investors have recently altered their positions in CCC Intelligent Solutions. Notably, Quarry LP acquired shares valued at around $36,000 in the last quarter of 2023. Other investors include Banque Cantonale Vaudoise with a new position valued at approximately $37,000, and Machina Capital S.A.S., which invested about $98,000. Valeo Financial Advisors LLC and Argent Trust Co also entered the market with investments of $100,000 and $109,000, respectively. Currently, hedge funds and institutional investors hold approximately 95.79% of the company’s stock.
Analyst Ratings and Market Performance
Research firms have been active in assessing CCC Intelligent Solutions, offering mixed ratings. On August 4, Barrington Research reaffirmed an “outperform” rating with a price target of $14.00 per share. Conversely, JPMorgan Chase & Co. downgraded the stock from “neutral” to “underweight” with a revised target of $10.00. In contrast, Barclays raised its price target from $11.00 to $12.00, maintaining an “equal weight” rating.
The stock recently opened at $9.23 on Tuesday, reflecting a decrease of 3.0%. With a market capitalization of $6.01 billion, CCC Intelligent Solutions has a price-to-earnings ratio of 461.73 and a beta of 0.74. The company’s performance has shown fluctuations, with a fifty-two week low of $8.14 and a high of $12.88.
Recent Earnings and Insider Activity
CCC Intelligent Solutions last announced its quarterly earnings on July 31, 2023. The company reported earnings per share (EPS) of $0.09, slightly exceeding analysts’ expectations of $0.08. The total revenue for the quarter reached $260.45 million, surpassing the consensus estimate of $256.21 million, marking a 12.0% increase compared to the same period last year.
In terms of insider trading, Director Crescenzo Neil E. De acquired 100,000 shares at an average price of $8.54, totaling $854,000. This acquisition increased his holdings to 213,429 shares, valued at approximately $1.82 million. On the other hand, Director Eric Wei sold 30 million shares for $296.1 million, resulting in a substantial decrease of 97.19% in his position.
Over the past three months, insiders have sold a total of 120,005,302 shares, amounting to $1.14 billion. Currently, insiders own 6.03% of the company’s stock.
As CCC Intelligent Solutions continues to navigate its market position, analysts maintain a cautious outlook. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.07. The company operates as a software as a service provider for the property and casualty insurance industry, with a focus on enhancing digital workflows and connecting various stakeholders within the sector.
