Glenmede Trust Co. NA Increases Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Glenmede Trust Co. NA grew its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 22.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,073 shares of the company’s stock after purchasing an additional 10,334 shares during the quarter. Glenmede Trust Co. NA’s holdings in CCC Intelligent Solutions were worth $631,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CCCS. Ghisallo Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions during the 2nd quarter worth about $132,917,000. Principal Financial Group Inc. raised its holdings in 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 purchasing an additional 6,921,161 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of CCC Intelligent Solutions during the 2nd quarter worth approximately $70,844,000. Van Berkom & Associates Inc. acquired a new position in shares of CCC Intelligent Solutions in the 2nd quarter valued at $61,605,000. Finally, Dragoneer Investment Group LLC grew its position in shares of CCC Intelligent Solutions by 31.5% in the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock valued at $176,704,000 after buying an additional 3,809,200 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CCCS shares. Bank of America began 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. JPMorgan Chase & Co. dropped their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Barrington Research reiterated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Barclays dropped their price target on 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 raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock 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 company. According to data from MarketBeat, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 97,511 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $12.01, for a total transaction of $1,171,107.11. Following the sale, the insider now directly owns 97,268 shares in the company, valued at approximately $1,168,188.68. The trade was a 50.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rodney Christo sold 9,916 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The disclosure for this sale can be found here. Insiders have sold a total of 443,153 shares of company stock valued at $5,390,863 in the last ninety days. 6.67% of the stock is currently owned by company insiders.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $12.55 on Wednesday. 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 stock’s 50 day moving average is $11.31 and its two-hundred day moving average is $11.12. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.83. The firm has a market capitalization of $7.85 billion, a PE ratio of 84.33, a P/E/G ratio of 6.97 and a beta of 0.71.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm 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 business earned $0.03 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share 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.