Mary Jo Prigge, Executive Vice President and Chief Service Delivery Officer at CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS), has executed a sale of 100,000 shares of company stock on May 20, 2024, for a total value of approximately $1.15 million, with individual share prices ranging from $11.44 to $11.55.
The transaction was reported in a recent SEC filing, which also included the purchase of 100,000 shares at a price of $2.50 per share, amounting to a total of $250,000. This buy transaction is linked to the exercise of stock options under a pre-existing arrangement related to the company's acquisition of Cypress Holdings, Inc.
Following these transactions, Prigge's direct holdings in CCC Intelligent Solutions have adjusted to a total of 86,825 shares. Additionally, the executive has indirect ownership of 853,085 shares through a trust. It's important to note that the price reported for the stock sale represents a weighted average, as the shares were sold in multiple transactions over a range of prices.
These filings provide transparency into the trading activities of the company's insiders, offering investors a glimpse into executive confidence and financial moves within CCC Intelligent Solutions.
InvestingPro Insights
The recent insider transactions at CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by Executive Vice President Mary Jo Prigge have coincided with some notable financial metrics and market activities. According to real-time data from InvestingPro, the company has a market capitalization of approximately $7.05 billion and has shown a significant return over the last week with a price total return of 8.11%. Additionally, CCCS boasts a gross profit margin of 76.86% in the last twelve months as of Q1 2024, underscoring the company's ability to maintain profitability in its operations.
Investors may find it interesting that CCCS's management has been aggressively buying back shares, as reflected in the recent insider transactions. This could be a signal of management's confidence in the company's future performance. Moreover, the company is expected to see net income growth this year, which aligns with the positive outlook suggested by the recent share purchases by Prigge. On the flip side, it's worth noting that four analysts have revised their earnings expectations downwards for the upcoming period, which could indicate potential challenges ahead.
InvestingPro offers additional insights into CCC Intelligent Solutions, with a total of 12 InvestingPro Tips available for those looking to delve deeper into the company's financial health and market positioning. For readers interested in accessing these valuable tips, InvestingPro invites you to explore their platform using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. The insights provided by InvestingPro could be instrumental in making informed investment decisions regarding CCCS, especially in light of the recent insider trading activity.
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