CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 25.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,738 shares of the company’s stock after purchasing an additional 72,106 shares during the quarter. Rhumbline Advisers’ holdings in CCC Intelligent Solutions were worth $3,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of CCC Intelligent Solutions by 144,359.9% during the 1st quarter. Principal Financial Group Inc. now owns 18,329,069 shares of the company’s stock valued at $219,216,000 after buying an additional 18,316,381 shares during the period. Akre Capital Management LLC purchased a new stake in shares of CCC Intelligent Solutions during the first quarter valued at approximately $83,720,000. Vanguard Group Inc. raised its stake in shares of CCC Intelligent Solutions by 34.0% during the fourth quarter. Vanguard Group Inc. now owns 23,809,077 shares of the company’s stock valued at $271,185,000 after purchasing an additional 6,043,282 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of CCC Intelligent Solutions by 526.7% in the first quarter. Conestoga Capital Advisors LLC now owns 6,310,340 shares of the company’s stock valued at $75,472,000 after purchasing an additional 5,303,425 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in CCC Intelligent Solutions by 59.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,312,688 shares of the company’s stock valued at $123,340,000 after purchasing an additional 3,861,020 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on CCCS. Jefferies Financial Group decreased their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Bank of America initiated coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average target price of $13.78.

Insider Activity

In other news, insider Michael John Silva sold 29,022 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the transaction, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Githesh Ramamurthy sold 24,541 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $11.50, for a total transaction of $282,221.50. Following the completion of the transaction, the insider now directly owns 6,463,840 shares in the company, valued at $74,334,160. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael John Silva sold 29,022 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the completion of the sale, the insider now owns 30,172 shares in the company, valued at $324,349. The disclosure for this sale can be found here. In the last three months, insiders sold 25,292,611 shares of company stock valued at $285,547,265. Company insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Down 0.6 %

Shares of CCC Intelligent Solutions stock opened at $10.83 on Tuesday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $10.72 and a 200 day moving average price of $11.24. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $13.41. The firm has a market cap of $6.73 billion, a P/E ratio of -51.57, a P/E/G ratio of 6.16 and a beta of 0.62.

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

CCC Intelligent Solutions Profile

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.