Truist Financial Corp Grows Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Truist Financial Corp boosted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 70.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 329,076 shares of the company’s stock after purchasing an additional 135,837 shares during the period. Truist Financial Corp’s holdings in CCC Intelligent Solutions were worth $3,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCCS. Park Place Capital Corp grew its stake in shares of CCC Intelligent Solutions by 65.9% in the fourth quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock valued at $48,000 after buying an additional 1,659 shares in the last quarter. Covestor Ltd grew its position in CCC Intelligent Solutions by 781.7% in the 3rd quarter. Covestor Ltd now owns 6,895 shares of the company’s stock valued at $92,000 after acquiring an additional 6,113 shares in the last quarter. Parkside Financial Bank & Trust purchased a new stake in CCC Intelligent Solutions during the fourth quarter worth about $99,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of CCC Intelligent Solutions during the third quarter worth about $143,000. Finally, Cerity Partners LLC purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Activity

In related news, insider Githesh Ramamurthy sold 57,619 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $11.52, for a total transaction of $663,770.88. Following the transaction, the insider now owns 6,463,840 shares in the company, valued at approximately $74,463,436.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Rodney Christo sold 4,606 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $11.88, for a total transaction of $54,719.28. Following the completion of the sale, the chief accounting officer now owns 14,154 shares in the company, valued at $168,149.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Githesh Ramamurthy sold 57,619 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $11.52, for a total value of $663,770.88. Following the transaction, the insider now directly owns 6,463,840 shares in the company, valued at approximately $74,463,436.80. The disclosure for this sale can be found here. In the last three months, insiders sold 59,706,755 shares of company stock valued at $681,785,331. Insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock opened at $10.91 on Tuesday. The firm has a market capitalization of $6.71 billion, a P/E ratio of -51.95 and a beta of 0.63. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.81 and a 52 week high of $13.41. The firm’s 50 day moving average is $11.71 and its two-hundred day moving average is $11.43.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $222.80 million. Research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

CCC Intelligent Solutions Company 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.