Cerity Partners LLC Reduces Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Cerity Partners LLC decreased its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 23.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 172,843 shares of the company’s stock after selling 54,038 shares during the quarter. Cerity Partners LLC’s holdings in CCC Intelligent Solutions were worth $1,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCCS. TD Private Client Wealth LLC purchased a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth about $31,000. Quarry LP acquired a new stake in CCC Intelligent Solutions in the fourth quarter worth about $36,000. Valeo Financial Advisors LLC acquired a new position in shares of CCC Intelligent Solutions during the first quarter valued at approximately $100,000. Curated Wealth Partners LLC raised its stake in shares of CCC Intelligent Solutions by 42.1% in the 1st quarter. Curated Wealth Partners LLC now owns 14,268 shares of the company’s stock worth $129,000 after buying an additional 4,224 shares in the last quarter. Finally, Sagespring Wealth Partners LLC acquired a new stake in CCC Intelligent Solutions in the 4th quarter valued at about $133,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Down 0.7%

CCCS stock opened at $9.69 on Tuesday. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 484.74 and a beta of 0.74. The company’s 50 day moving average price is $9.20 and its 200 day moving average price is $9.64. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two week 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 issued 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 business had revenue of $251.57 million for the quarter, compared to the consensus estimate of $249.87 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. cut CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 price target for the company. in a report on Monday, June 23rd. Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Piper Sandler lowered their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, Barclays cut 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 report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.06.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De acquired 100,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $8.54 per share, for a total transaction of $854,000.00. Following the transaction, the director owned 213,429 shares of the company’s stock, valued at approximately $1,822,683.66. The trade was a 88.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Young sold 30,000,000 shares of the stock in a transaction 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 completion of the sale, the director 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 disclosure for this sale can be found here. Company insiders own 6.03% of the company’s stock.

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.