Renaissance Technologies LLC Reduces Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Renaissance Technologies LLC trimmed its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 61.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,800 shares of the company’s stock after selling 619,300 shares during the period. Renaissance Technologies LLC’s holdings in CCC Intelligent Solutions were worth $4,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in CCCS. Banque Cantonale Vaudoise boosted its holdings in shares of CCC Intelligent Solutions by 128.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock valued at $30,000 after buying an additional 1,424 shares in 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 purchasing 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 purchasing an additional 2,419 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of CCC Intelligent Solutions during the first quarter worth about $53,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of CCC Intelligent Solutions by 15.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock valued at $132,000 after purchasing an additional 1,564 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Trading Up 0.9 %

NYSE:CCCS opened at $11.13 on Friday. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $10.68 and its 200-day simple moving average is $11.17. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $13.41. The firm has a market cap of $6.92 billion, a P/E ratio of -53.00, a PEG ratio of 6.35 and a beta of 0.62.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, July 31st. Bank of America started coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Jefferies Financial Group reduced 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 research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.75.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 99,925 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.89, for a total value of $988,258.25. Following the completion of the transaction, the director now owns 54,047 shares in the company, valued at $534,524.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eileen Schloss sold 99,925 shares of CCC Intelligent Solutions stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.89, for a total value of $988,258.25. Following the transaction, the director now directly owns 54,047 shares of the company’s stock, valued at approximately $534,524.83. The disclosure for this sale can be found here. In the last three months, insiders sold 25,212,582 shares of company stock valued at $284,622,492. Corporate insiders own 6.67% of the company’s stock.

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.