Arizona State Retirement System Increases Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Arizona State Retirement System increased its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 31.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,938 shares of the company’s stock after purchasing an additional 14,213 shares during the quarter. Arizona State Retirement System’s holdings in CCC Intelligent Solutions were worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of CCC Intelligent Solutions by 0.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 29,864,967 shares of the company’s stock valued at $259,826,000 after acquiring an additional 108,949 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CCC Intelligent Solutions by 7.2% during the third quarter. Vanguard Group Inc. now owns 17,765,795 shares of the company’s stock valued at $237,173,000 after purchasing an additional 1,188,369 shares during the period. Invesco Ltd. grew its holdings in shares of CCC Intelligent Solutions by 19.2% in the third quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock worth $104,437,000 after purchasing an additional 1,260,457 shares during the last quarter. BlackRock Inc. increased its stake in shares of CCC Intelligent Solutions by 11.7% in the second quarter. BlackRock Inc. now owns 6,635,331 shares of the company’s stock worth $74,382,000 after buying an additional 696,126 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in CCC Intelligent Solutions by 10.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,922,902 shares of the company’s stock valued at $65,721,000 after buying an additional 483,389 shares during the last quarter. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock opened at $11.42 on Friday. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.42 and a 12 month high of $13.41. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $11.73 and its two-hundred day simple moving average is $11.55. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -54.38 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $228.60 million for the quarter, compared to analysts’ expectations of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. As a group, equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Rodney Christo sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.50, for a total value of $375,000.00. Following the transaction, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at approximately $176,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Lauren Young sold 16,649,197 shares of CCC Intelligent Solutions stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $11.58, for a total value of $192,797,701.26. Following the completion of the sale, the director now directly owns 4,777,763 shares in the company, valued at $55,326,495.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rodney Christo sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.50, for a total transaction of $375,000.00. Following the transaction, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at $176,925. The disclosure for this sale can be found here. Insiders have sold a total of 59,648,839 shares of company stock worth $681,118,139 over the last 90 days. 6.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CCCS shares. Piper Sandler raised their price target on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Citigroup restated a “buy” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a report on Thursday, February 8th. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Thursday, February 29th. Evercore ISI upped their target price on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, Barclays increased their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

About CCC Intelligent Solutions

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.