Quantinno Capital Management LP Sells 20,663 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Quantinno Capital Management LP cut its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 54.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,495 shares of the company’s stock after selling 20,663 shares during the quarter. Quantinno Capital Management LP’s holdings in CCC Intelligent Solutions were worth $193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CCCS. Advisors Asset Management Inc. raised its position in shares of CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after buying an additional 1,729 shares in the last quarter. CWM LLC increased its stake in CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after acquiring an additional 2,419 shares during the last quarter. Huntington National Bank raised its position in CCC Intelligent Solutions by 37.6% during the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after purchasing an additional 1,599 shares in the last quarter. Marco Investment Management LLC bought a new stake in CCC Intelligent Solutions during the third quarter worth about $113,000. Finally, KBC Group NV boosted its holdings in shares of CCC Intelligent Solutions by 81.7% in the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock worth $114,000 after purchasing an additional 4,637 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 75,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.80, for a total value of $885,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the transaction, the insider now owns 4,798,040 shares in the company, valued at $55,177,460. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,153 shares of company stock worth $5,390,863 over the last quarter. Corporate insiders own 6.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Bank of America started coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective for the company. Barclays decreased their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $13.89.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock opened at $12.22 on Tuesday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market cap of $7.64 billion, a P/E ratio of 611.00, a P/E/G ratio of 6.80 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $9.79 and a 1-year high of $12.88. The firm has a 50-day moving average of $11.64 and a 200-day moving average of $11.18.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter last year, the business posted $0.03 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current 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.