CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 98.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,061,540 shares of the company’s stock after buying an additional 1,021,543 shares during the period. Bank of New York Mellon Corp owned about 0.33% of CCC Intelligent Solutions worth $22,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise grew its holdings in shares of CCC Intelligent Solutions by 128.4% during the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after purchasing an additional 1,424 shares during the last quarter. American International Group Inc. grew its holdings in shares of CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares during the last quarter. CWM LLC grew its holdings in shares of CCC Intelligent Solutions by 352.6% during the second quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after buying an additional 2,419 shares during the last quarter. Twin Tree Management LP purchased a new position in shares of CCC Intelligent Solutions during the first quarter worth about $53,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $119,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Rodney Christo sold 4,177 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $42,772.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Rodney Christo sold 4,177 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $42,772.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Herb sold 20,887 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $213,882.88. Following the completion of the sale, the insider now directly owns 217,872 shares of the company’s stock, valued at $2,231,009.28. The disclosure for this sale can be found here. Insiders sold 25,292,611 shares of company stock worth $285,547,265 in the last ninety days. Insiders own 6.67% of the company’s stock.

Wall Street Analysts Forecast Growth

CCCS has been the topic of a number of research reports. Jefferies Financial Group lowered their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Barrington Research reissued an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Finally, Bank of America initiated coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $13.78.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $10.51 on Friday. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $13.41. The stock’s 50 day moving average is $10.79 and its two-hundred day moving average is $11.28. The firm has a market capitalization of $6.53 billion, a PE ratio of -50.05, a P/E/G ratio of 6.25 and a beta of 0.62. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The company had revenue of $232.60 million during the quarter, compared to the consensus estimate of $230.16 million. During the same period last year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current year.

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.