Swiss National Bank Decreases Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Swiss National Bank lowered its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 268,000 shares of the company’s stock after selling 29,700 shares during the period. Swiss National Bank’s holdings in CCC Intelligent Solutions were worth $2,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Thornburg Investment Management Inc. raised its holdings in shares of CCC Intelligent Solutions by 11.9% in the first quarter. Thornburg Investment Management Inc. now owns 1,331,417 shares of the company’s stock worth $11,943,000 after buying an additional 141,688 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CCC Intelligent Solutions by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 615,023 shares of the company’s stock worth $5,517,000 after buying an additional 2,582 shares during the last quarter. Roubaix Capital LLC raised its holdings in shares of CCC Intelligent Solutions by 121.9% in the first quarter. Roubaix Capital LLC now owns 427,448 shares of the company’s stock worth $3,834,000 after buying an additional 234,848 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of CCC Intelligent Solutions in the first quarter worth $109,000. Finally, Russell Investments Group Ltd. increased its stake in shares of CCC Intelligent Solutions by 68.6% in the first quarter. Russell Investments Group Ltd. now owns 466,575 shares of the company’s stock worth $4,185,000 after acquiring an additional 189,846 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

CCC Intelligent Solutions Stock Up 1.0 %

CCCS stock opened at $10.84 on Wednesday. The firm has a market cap of $6.85 billion, a PE ratio of -77.43 and a beta of 0.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.07 and a current ratio of 4.07. The firm’s fifty day moving average is $10.75 and its 200 day moving average is $9.92. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.19 and a one year high of $11.40.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $211.71 million for the quarter, compared to analysts’ expectations of $208.52 million. CCC Intelligent Solutions had a negative net margin of 10.32% and a positive return on equity of 7.47%. On average, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Evercore ISI upgraded shares of CCC Intelligent Solutions from an “in-line” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research note on Tuesday, May 23rd. Piper Sandler increased their price objective on shares of CCC Intelligent Solutions from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Barclays increased their price objective on shares of CCC Intelligent Solutions from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. Finally, Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.33.

About CCC Intelligent Solutions

CCC Intelligent Solutions Holdings Inc provides cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. 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 insurance carriers, collision repairers, parts suppliers, automotive manufactures, financial institution, and others.