CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Acquired by State Street Corp

State Street Corp boosted its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 32.2% in the third quarter, HoldingsChannel reports. The firm owned 7,446,518 shares of the company’s stock after purchasing an additional 1,815,816 shares during the period. State Street Corp’s holdings in CCC Intelligent Solutions were worth $82,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCCS. Advisors Asset Management Inc. boosted its holdings in CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after purchasing an additional 1,729 shares during the last quarter. CWM LLC boosted its holdings 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 purchasing an additional 2,419 shares during the last quarter. Huntington National Bank boosted its holdings in CCC Intelligent Solutions by 37.6% in 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 during the last quarter. Marco Investment Management LLC purchased a new position in CCC Intelligent Solutions in the third quarter valued at about $113,000. Finally, KBC Group NV boosted its holdings in CCC Intelligent Solutions by 81.7% in the third quarter. KBC Group NV now owns 10,314 shares of the company’s stock valued at $114,000 after purchasing an additional 4,637 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Activity at CCC Intelligent Solutions

In related news, insider Mary Jo Prigge sold 19,276 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $12.67, for a total value of $244,226.92. Following the sale, the insider now directly owns 97,268 shares in the company, valued at $1,232,385.56. This trade represents a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. 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 in the last three months. 6.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CCCS has been the subject of a number of analyst reports. Barclays reduced their price target on 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. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, Bank of America began coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.89.

CCC Intelligent Solutions Trading Up 0.7 %

Shares of NYSE CCCS opened at $12.22 on Tuesday. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 611.00, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88. 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 simple moving average is $11.64 and its 200 day simple moving average is $11.18.

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, 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 for the quarter, compared to the consensus estimate 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. Equities research 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.