Mirae Asset Global Investments Co. Ltd. Boosts Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Mirae Asset Global Investments Co. Ltd. grew its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 40.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,628 shares of the company’s stock after buying an additional 65,649 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CCC Intelligent Solutions were worth $2,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH increased its stake in shares of CCC Intelligent Solutions by 6.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,225,063 shares of the company’s stock worth $25,343,000 after acquiring an additional 127,738 shares during the period. Riverbridge Partners LLC increased its stake in shares of CCC Intelligent Solutions by 41.6% in the fourth quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock worth $77,865,000 after acquiring an additional 2,009,175 shares during the period. Invesco Ltd. increased its stake 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 acquiring an additional 1,260,457 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of CCC Intelligent Solutions in the third quarter worth $8,694,000. Finally, Gotham Asset Management LLC increased its stake in shares of CCC Intelligent Solutions by 16.4% in the third quarter. Gotham Asset Management LLC now owns 85,976 shares of the company’s stock worth $1,148,000 after acquiring an additional 12,112 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $11.42 on Friday. The firm’s fifty day moving average is $11.73 and its 200 day moving average is $11.55. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.42 and a one year high of $13.41. The firm has a market cap of $6.91 billion, a PE ratio of -54.38 and a beta of 0.62. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.29 and a current ratio of 2.29.

CCC Intelligent Solutions (NYSE:CCCS) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. The company had revenue of $228.60 million during the quarter, compared to analyst estimates of $222.80 million. On average, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.18 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the sale, the director now owns 5,164,022 shares in the company, valued at $58,508,369.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Lauren Young sold 41,165,139 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the transaction, the director now directly owns 5,164,022 shares of the company’s stock, valued at $58,508,369.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Herb sold 23,521 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $11.81, for a total transaction of $277,783.01. Following the completion of the transaction, the insider now directly owns 288,076 shares in the company, valued at $3,402,177.56. 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 company insiders.

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.