Handelsbanken Fonder AB Purchases New Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Handelsbanken Fonder AB acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 4th quarter, HoldingsChannel reports. The firm acquired 24,400 shares of the company’s stock, valued at approximately $278,000.

A number of other hedge funds have also made changes to their positions in CCCS. Vanguard Group Inc. boosted its stake in CCC Intelligent Solutions by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,765,795 shares of the company’s stock worth $237,173,000 after purchasing an additional 1,188,369 shares during the last quarter. Invesco Ltd. boosted its position in CCC Intelligent Solutions by 19.2% during 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 last quarter. Riverbridge Partners LLC grew its stake in CCC Intelligent Solutions by 41.6% during the 4th quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock valued at $77,865,000 after acquiring an additional 2,009,175 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CCC Intelligent Solutions by 31.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,451,668 shares of the company’s stock valued at $73,484,000 after acquiring an additional 1,528,766 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in CCC Intelligent Solutions by 306.4% in the 3rd quarter. Brown Advisory Inc. now owns 4,562,530 shares of the company’s stock worth $60,910,000 after purchasing an additional 3,439,776 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday. Citigroup reissued a “buy” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Thursday, February 8th. Piper Sandler lifted their target price 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. Evercore ISI increased their price target on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, Barclays lifted 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.63.

CCC Intelligent Solutions Trading Up 1.2 %

Shares of CCC Intelligent Solutions stock opened at $10.68 on Friday. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of -50.86 and a beta of 0.63. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.43. 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 fifty day simple moving average of $11.74 and a 200-day simple moving average of $11.46.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.42%. The business had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $222.80 million. On average, equities analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other CCC Intelligent Solutions 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 transaction of $466,401,024.87. Following the sale, the director now directly owns 5,164,022 shares of the company’s stock, valued at approximately $58,508,369.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the completion of the sale, the director now directly owns 5,164,022 shares in the company, valued at $58,508,369.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rodney Christo sold 30,000 shares of the 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 completion of the sale, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at approximately $176,925. The disclosure for this sale can be found here. Insiders have sold 59,706,755 shares of company stock worth $681,785,331 in the last three months. Corporate insiders own 6.67% of the company’s stock.

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.