Blair William & Co. IL Buys New Shares in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Blair William & Co. IL bought a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 100,125 shares of the company’s stock, valued at approximately $1,112,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in CCC Intelligent Solutions by 17.7% in the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock worth $335,299,000 after purchasing an additional 4,225,920 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of CCC Intelligent Solutions by 37.8% during the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock worth $280,530,000 after buying an additional 6,921,161 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of CCC Intelligent Solutions by 7.4% during the first quarter. Janus Henderson Group PLC now owns 12,469,424 shares of the company’s stock worth $149,133,000 after buying an additional 857,110 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CCC Intelligent Solutions by 59.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,312,688 shares of the company’s stock worth $123,340,000 after buying an additional 3,861,020 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of CCC Intelligent Solutions by 26.9% during the second quarter. Conestoga Capital Advisors LLC now owns 8,009,885 shares of the company’s stock worth $88,990,000 after buying an additional 1,699,545 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CCCS. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Bank of America assumed coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.75.

Insider Transactions at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 55,488 shares of CCC Intelligent Solutions stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $11.58, for a total transaction of $642,551.04. Following the transaction, the insider now directly owns 6,463,840 shares of the company’s stock, valued at $74,851,267.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director International L.P. Advent sold 24,973,795 shares of CCC Intelligent Solutions stock in a transaction on Monday, July 1st. The shares were sold at an average price of $11.30, for a total transaction of $282,203,883.50. Following the transaction, the director now directly owns 3,232,721 shares of the company’s stock, valued at $36,529,747.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Githesh Ramamurthy sold 55,488 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $11.58, for a total transaction of $642,551.04. Following the completion of the sale, the insider now directly owns 6,463,840 shares in the company, valued at $74,851,267.20. The disclosure for this sale can be found here. Insiders have sold a total of 25,268,070 shares of company stock valued at $285,265,043 over the last three months. 6.67% of the stock is currently owned by corporate insiders.

CCC Intelligent Solutions Price Performance

Shares of CCCS stock opened at $10.93 on Wednesday. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.79 and a 52-week high of $13.41. The stock has a market cap of $6.80 billion, a PE ratio of -52.05, a PEG ratio of 6.16 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 2.79. The firm’s 50 day moving average price is $10.69 and its two-hundred day moving average price is $11.19.

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, 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 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 firm earned $0.02 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

CCC Intelligent Solutions Company 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.