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In a recent filing with the Securities and Exchange Commission, Eric Wei, a director at CCC (WA:CCCP) Intelligent Solutions Holdings Inc. (NYSE:CCCS), disclosed the sale of a substantial portion of the company’s common stock. On March 3, Wei sold a total of 42,236,000 shares at a price of $10.325 per share, amounting to approximately $433.65 million. The sale comes as CCCS, currently valued at $6.36 billion, maintains impressive gross profit margins of 76.5% and demonstrates relatively low price volatility with a beta of 0.73.
The sales were part of an underwritten public offering, as detailed in a prospectus supplement filed on February 27, 2025. Following these transactions, Wei holds over 71 million shares indirectly, as noted in the filing. These shares are held through various entities associated with Advent International, where Wei is a managing director. According to InvestingPro, the stock is currently trading near its 52-week low, with additional insights available in the comprehensive Pro Research Report covering 1,400+ top US stocks.
In other recent news, CCC Intelligent Solutions Holdings Inc. reported its fourth-quarter 2024 earnings, aligning with analyst expectations with an earnings per share of $0.10 and slightly surpassing revenue forecasts at $246.5 million, marking an 8% increase year-over-year. The company also announced a secondary offering of 42 million shares by affiliates of Advent International, with CCC planning to repurchase 7 million shares from the underwriters, using cash on hand. This move is part of the company’s strategy to manage its capital structure. In analyst activity, JPMorgan downgraded CCC Intelligent Solutions’ stock rating from Overweight to Neutral, citing concerns over the company’s growth potential and market penetration, as well as a decrease in net dollar retention to 105%, the lowest level since 2020.
Additionally, CCC Intelligent Solutions launched new AI-driven products and acquired Evolution IQ to expand its market reach. For the full year 2024, the company reported revenue of $944.8 million, up 9% year-over-year, with an adjusted EBITDA of $106 million for Q4, reflecting a 43% margin. The company projects 2025 revenue between $1.055 billion and $1.065 billion, representing 12% growth, with the acquisition of Evolution IQ expected to contribute $45-$50 million to this growth. Despite the downgrade from JPMorgan, CCC Intelligent Solutions continues to focus on digital transformation within the insurance economy, with strategic initiatives designed to enhance product offerings and expand its market presence.
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