Entropy Technologies LP Sells 10,200 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Entropy Technologies LP cut its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 22.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,184 shares of the company’s stock after selling 10,200 shares during the period. Entropy Technologies LP’s holdings in CCC Intelligent Solutions were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCCS. Ghisallo Capital Management LLC purchased a new stake in CCC Intelligent Solutions during the second quarter valued at $132,917,000. Akre Capital Management LLC purchased a new stake in shares of CCC Intelligent Solutions during the 1st quarter valued at about $83,720,000. Principal Financial Group Inc. lifted its stake in shares of CCC Intelligent Solutions by 37.8% in the 2nd quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock worth $280,530,000 after purchasing an additional 6,921,161 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of CCC Intelligent Solutions in the second quarter worth approximately $70,844,000. Finally, Van Berkom & Associates Inc. bought a new stake in CCC Intelligent Solutions during the second quarter valued at approximately $61,605,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Trading Down 0.6 %

CCC Intelligent Solutions stock opened at $11.77 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm’s 50 day moving average price is $10.96 and its 200-day moving average price is $11.00. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.68. The stock has a market cap of $7.36 billion, a P/E ratio of 588.50, a PEG ratio of 6.67 and a beta of 0.63.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. During the same period in the previous year, the firm posted $0.03 EPS. CCC Intelligent Solutions’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the transaction, the insider now directly owns 4,798,040 shares of the company’s stock, valued at $55,177,460. This trade represents a 0.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mary Jo Prigge sold 2,489 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total transaction of $29,868.00. Following the sale, the insider now owns 97,268 shares in the company, valued at $1,167,216. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,664 shares of company stock worth $550,614. Corporate insiders own 6.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCCS. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $14.00 to $15.00 in a research report on Wednesday. Barrington Research reissued an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Barclays reduced their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Jefferies Financial Group lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average target price of $13.78.

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.