TFJ Management Increases Investment in CCC Intelligent Solutions

TFJ Management, an investment fund based in Massachusetts, has significantly boosted its investment in CCC Intelligent Solutions Holdings Inc., evidenced by an increase of over 590,000 shares. This move raises TFJ's total stake to around 1.4 million shares, equating to a market value of $12.46 million, according to their latest U.S. Securities and Exchange Commission filing dated November 13. This acquisition underscores CCC Intelligent Solutions as a vital part of TFJ's portfolio, comprising 8.39% of their reported equity assets.

Despite CCC's share price decline by 33% over the past year, contrasting with the S&P 500's 16.5% gain, TFJ Management's unwavering support highlights confidence in CCC's forward-looking business model. Operating as a SaaS provider within the property and casualty insurance sector, CCC Intelligent Solutions leverages AI-driven innovation and cloud-based technology to optimize regulatory compliance and streamline communications across insurers, repairers, and automotive partners. This strategic focus on technology positions CCC to effectively address evolving industry demands and payer-provider dynamics.

In Q3, CCC reported a revenue surge of 12% year-over-year, tallying $267.1 million, and achieved an adjusted EBITDA of $110.1 million, marking a 41% margin. The company revealed free cash flow of $78.6 million for the quarter while updating its financial guidance to anticipate reaching $1.056 billion in revenue and $428 million in adjusted EBITDA for the full year. Furthermore, CCC executed a stock buyback of $44.9 million, bringing its year-to-date usage to $217 million out of a $300 million authorization. TFJ’s investment underscores a strategic belief in CCC's potential to sustain and grow its recurring revenues, reflecting a broader investment trend toward long-term financial resilience amidst industry market volatility.