CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stake Reduced by Cetera Investment Advisers

Cetera Investment Advisers decreased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,241 shares of the company’s stock after selling 1,261 shares during the period. Cetera Investment Advisers’ holdings in CCC Intelligent Solutions were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CCCS. Brown Advisory Inc. lifted its position in shares of CCC Intelligent Solutions by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company’s stock valued at $164,613,000 after acquiring an additional 299,943 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $1,699,000. Ameriprise Financial Inc. lifted its holdings in shares of CCC Intelligent Solutions by 42.3% during the fourth quarter. Ameriprise Financial Inc. now owns 986,831 shares of the company’s stock valued at $11,576,000 after purchasing an additional 293,355 shares during the last quarter. Consolidated Press International Holdings Ltd. lifted its holdings in shares of CCC Intelligent Solutions by 13.1% during the fourth quarter. Consolidated Press International Holdings Ltd. now owns 110,700 shares of the company’s stock valued at $1,299,000 after purchasing an additional 12,800 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of CCC Intelligent Solutions by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,806,996 shares of the company’s stock valued at $32,926,000 after purchasing an additional 297,534 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Down 3.8%

CCC Intelligent Solutions stock opened at $8.47 on Tuesday. The firm’s 50 day moving average price is $8.89 and its two-hundred day moving average price is $10.42. The firm has a market cap of $5.58 billion, a PE ratio of 423.71 and a beta of 0.76. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $251.57 million for the quarter, compared to analysts’ expectations of $249.87 million. During the same period in the previous year, the company posted $0.09 EPS. CCC Intelligent Solutions’s revenue was up 10.7% on a year-over-year basis. On average, research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the transaction, the director now directly owns 2,258,343 shares in the company, valued at $23,306,099.76. This trade represents a 94.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy A. Welsh purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, May 14th. The stock was bought at an average cost of $9.03 per share, with a total value of $903,000.00. Following the transaction, the insider now directly owns 168,472 shares of the company’s stock, valued at approximately $1,521,302.16. The trade was a 146.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 42,087,456 shares of company stock valued at $434,240,401 in the last three months. Corporate insiders own 6.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CCCS shares. Morgan Stanley cut their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group cut their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Barclays decreased their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Piper Sandler cut their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $12.19.

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.