PNC Financial Services Group Inc. Purchases 14,293 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

PNC Financial Services Group Inc. raised its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 66.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 35,818 shares of the company’s stock after purchasing an additional 14,293 shares during the period. PNC Financial Services Group Inc.’s holdings in CCC Intelligent Solutions were worth $408,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CCCS. Vanguard Group Inc. lifted its stake in shares of CCC Intelligent Solutions by 34.0% during the 4th quarter. Vanguard Group Inc. now owns 23,809,077 shares of the company’s stock worth $271,185,000 after acquiring an additional 6,043,282 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of CCC Intelligent Solutions by 128.7% during the fourth quarter. Brown Advisory Inc. now owns 10,436,353 shares of the company’s stock valued at $118,870,000 after purchasing an additional 5,873,823 shares during the period. Riverbridge Partners LLC grew its holdings in shares of CCC Intelligent Solutions by 41.6% in the fourth quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock worth $77,865,000 after purchasing an additional 2,009,175 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in CCC Intelligent Solutions by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,451,668 shares of the company’s stock valued at $73,484,000 after buying an additional 1,528,766 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its position in CCC Intelligent Solutions by 58.8% in the 4th quarter. GW&K Investment Management LLC now owns 4,767,679 shares of the company’s stock valued at $54,304,000 after buying an additional 1,765,925 shares during the period. Institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Trading Down 3.4 %

CCCS opened at $11.11 on Friday. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $10.32 and a 12 month high of $13.41. The stock has a fifty day moving average price of $11.31 and a 200-day moving average price of $11.40. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -52.90, a PEG ratio of 5.52 and a beta of 0.62. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.43.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.52%. The firm had revenue of $227.24 million for the quarter, compared to analysts’ expectations of $225.21 million. As a group, equities research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, SVP Marc Fredman sold 28,804 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $11.97, for a total transaction of $344,783.88. Following the transaction, the senior vice president now directly owns 183,738 shares of the company’s stock, valued at $2,199,343.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Marc Fredman sold 28,804 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $11.97, for a total transaction of $344,783.88. Following the sale, the senior vice president now owns 183,738 shares in the company, valued at $2,199,343.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Young sold 16,649,197 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $11.58, for a total transaction of $192,797,701.26. Following the completion of the transaction, the director now directly owns 4,777,763 shares of the company’s stock, valued at $55,326,495.54. The disclosure for this sale can be found here. Insiders sold a total of 59,553,654 shares of company stock worth $683,603,211 over the last three months. Corporate insiders own 6.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCCS. Piper Sandler lifted their price target on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Barrington Research reaffirmed an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, May 1st. Finally, Evercore ISI increased their price target on CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

About CCC Intelligent Solutions

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.