Envestnet Asset Management Inc. Raises Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Envestnet Asset Management Inc. grew its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,781,121 shares of the company’s stock after purchasing an additional 68,543 shares during the quarter. Envestnet Asset Management Inc. owned about 0.42% of CCC Intelligent Solutions worth $25,114,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. TD Private Client Wealth LLC acquired a new position in shares of CCC Intelligent Solutions in the fourth quarter worth $31,000. Quarry LP purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at about $36,000. Curated Wealth Partners LLC raised its holdings in shares of CCC Intelligent Solutions by 42.1% in the first quarter. Curated Wealth Partners LLC now owns 14,268 shares of the company’s stock valued at $129,000 after buying an additional 4,224 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $133,000. Finally, Two Sigma Securities LLC acquired a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $139,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, 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 owned 1,562,344 shares in the company, valued at $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the purchase, the director owned 213,429 shares of the company’s stock, valued at approximately $1,822,683.66. This trade represents a 88.16% increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CCCS. Barclays reduced their price objective on shares of 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 dropped their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered 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 report on Wednesday, May 7th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a report on Monday, June 23rd. Finally, Morgan Stanley decreased their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.06.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock opened at $9.44 on Wednesday. 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 company has a market cap of $6.22 billion, a PE ratio of 472.24 and a beta of 0.74. The company’s 50-day moving average is $9.15 and its two-hundred day moving average is $9.70. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88.

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