KBC Group NV Grows Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

KBC Group NV grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 26.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,261 shares of the company’s stock after buying an additional 4,186 shares during the quarter. KBC Group NV’s holdings in CCC Intelligent Solutions were worth $183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its stake in CCC Intelligent Solutions by 75.4% during the first quarter. Illinois Municipal Retirement Fund now owns 259,714 shares of the company’s stock worth $2,345,000 after purchasing an additional 111,615 shares during the last quarter. Bessemer Group Inc. lifted its stake in CCC Intelligent Solutions by 1.5% during the first quarter. Bessemer Group Inc. now owns 9,902,693 shares of the company’s stock worth $89,421,000 after purchasing an additional 143,907 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in CCC Intelligent Solutions by 13.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 633,432 shares of the company’s stock worth $5,720,000 after purchasing an additional 76,522 shares during the last quarter. Norris Perne & French LLP MI lifted its stake in CCC Intelligent Solutions by 10.2% during the first quarter. Norris Perne & French LLP MI now owns 417,415 shares of the company’s stock worth $3,769,000 after purchasing an additional 38,646 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its stake in CCC Intelligent Solutions by 1.5% during the first quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company’s stock worth $112,327,000 after purchasing an additional 178,330 shares during the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Barclays cut their target price on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Piper Sandler cut their target price on 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, JPMorgan Chase & Co. cut CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 target price on the stock. in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.06.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, insider Timothy A. Welsh purchased 100,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were bought at an average cost of $9.03 per share, with a total value of $903,000.00. Following the completion of the acquisition, the insider owned 168,472 shares of the company’s stock, valued at approximately $1,521,302.16. This trade represents a 146.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Wei sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the transaction, the director directly owned 1,562,344 shares in the company, valued at approximately $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.03% of the company’s stock.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $9.82 on Monday. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 491.00 and a beta of 0.74. 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 Holdings Inc. has a one year low of $8.14 and a one year high of $12.88. The stock’s fifty day moving average is $9.07 and its 200-day moving average is $9.79.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. Equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

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.