Rhumbline Advisers Increases Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Rhumbline Advisers raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 414,450 shares of the company’s stock after purchasing an additional 5,948 shares during the period. Rhumbline Advisers owned 0.06% of CCC Intelligent Solutions worth $3,742,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC acquired a new stake in CCC Intelligent Solutions during the 4th quarter worth $31,000. Quarry LP acquired a new stake in CCC Intelligent Solutions during the 4th quarter worth $36,000. First Horizon Advisors Inc. boosted its stake in CCC Intelligent Solutions by 90.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company’s stock worth $69,000 after purchasing an additional 2,805 shares during the period. Smartleaf Asset Management LLC boosted its stake in CCC Intelligent Solutions by 27.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,258 shares of the company’s stock worth $86,000 after purchasing an additional 1,546 shares during the period. Finally, SRS Capital Advisors Inc. acquired a new stake in CCC Intelligent Solutions during the 4th quarter worth $124,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCCS has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Barclays reduced their target price 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. Finally, Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.19.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS opened at $8.80 on Friday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $8.89 and a two-hundred day moving average price of $10.12. 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 market capitalization of $5.80 billion, a P/E ratio of 440.22 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share 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 firm had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. During the same period last year, the firm posted $0.09 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Young sold 30,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total value of $272,400,000.00. Following the sale, the director now directly owns 1,562,344 shares of the company’s stock, valued at approximately $14,186,083.52. This trade represents a 95.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Crescenzo Neil E. De bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the transaction, the director now directly owns 213,429 shares of the company’s stock, valued at approximately $1,822,683.66. The trade was a 88.16% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 60,067,379 shares of company stock valued at $545,395,616. Insiders own 6.03% 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.