Bank of New York Mellon Corp Buys 76,144 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Bank of New York Mellon Corp grew its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,382,922 shares of the company’s stock after buying an additional 76,144 shares during the quarter. Bank of New York Mellon Corp owned 0.36% of CCC Intelligent Solutions worth $21,518,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Palisade Capital Management LP boosted its position in CCC Intelligent Solutions by 26.3% during the first quarter. Palisade Capital Management LP now owns 3,305,359 shares of the company’s stock worth $29,847,000 after purchasing an additional 687,892 shares in the last quarter. Principal Financial Group Inc. increased its position in CCC Intelligent Solutions by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company’s stock valued at $246,551,000 after acquiring an additional 363,944 shares during the period. Teacher Retirement System of Texas increased its position in CCC Intelligent Solutions by 13.6% during the 1st quarter. Teacher Retirement System of Texas now owns 184,804 shares of the company’s stock worth $1,669,000 after purchasing an additional 22,185 shares during the period. Amalgamated Bank grew its holdings in CCC Intelligent Solutions by 4.9% during the 1st quarter. Amalgamated Bank now owns 24,885 shares of the company’s stock valued at $225,000 after buying an additional 1,163 shares during the last quarter. Finally, KBC Group NV raised its position in shares of CCC Intelligent Solutions by 26.0% in the 1st quarter. KBC Group NV now owns 20,261 shares of the company’s stock worth $183,000 after buying an additional 4,186 shares during the period. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Trading Up 3.1%

Shares of CCCS opened at $9.84 on Friday. The company has a 50 day simple moving average of $9.18 and a two-hundred day simple moving average of $9.68. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market cap of $6.49 billion, a P/E ratio of 492.25 and a beta of 0.74.

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

Analysts Set New Price Targets

Several research firms have recently commented on CCCS. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 target price for the company. in a report on Monday, June 23rd. The Goldman Sachs Group reduced their target price 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. Morgan Stanley dropped 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 research report on Wednesday, April 16th. Barclays cut their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from 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, 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 completion of the transaction, the director directly owned 1,562,344 shares of the company’s stock, valued at $14,186,083.52. The trade was a 95.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timothy A. Welsh bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $9.03 per share, with a total value of $903,000.00. Following the purchase, the insider owned 168,472 shares of the company’s stock, valued at $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. 6.03% of the stock is currently owned by company insiders.

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.