Cetera Investment Advisers Buys 1,856 Shares of CCC Intelligent Solutions Holdings Inc. $CCCS

Cetera Investment Advisers grew its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,097 shares of the company’s stock after buying an additional 1,856 shares during the period. Cetera Investment Advisers’ holdings in CCC Intelligent Solutions were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CCCS. Machina Capital S.A.S. bought a new stake in CCC Intelligent Solutions in the first quarter worth $98,000. KLP Kapitalforvaltning AS increased its position in CCC Intelligent Solutions by 6.8% in the first quarter. KLP Kapitalforvaltning AS now owns 90,700 shares of the company’s stock worth $819,000 after purchasing an additional 5,800 shares during the last quarter. Homestead Advisers Corp bought a new stake in CCC Intelligent Solutions in the first quarter worth $2,483,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CCC Intelligent Solutions in the first quarter worth $3,107,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in CCC Intelligent Solutions in the first quarter worth $300,000. Institutional investors own 95.79% of the company’s stock.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $8.54 per share, with a total value of $854,000.00. Following the completion of the purchase, the director directly owned 213,429 shares in the company, valued at $1,822,683.66. The trade was a 88.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric Wei sold 30,000,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the completion of the sale, the director directly owned 866,345 shares of the company’s stock, valued at approximately $8,550,825.15. This trade represents a 97.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,005,302 shares of company stock valued at $1,137,051,748. Company insiders own 6.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of CCC Intelligent Solutions from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. The Goldman Sachs Group cut their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from a “neutral” rating to an “underweight” rating and set a $10.00 price objective on the stock. in a research report on Monday, June 23rd. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, August 4th. Finally, Piper Sandler reiterated a “neutral” rating and set a $10.00 price objective on shares of CCC Intelligent Solutions in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Hold” and a consensus price target of $12.21.

CCC Intelligent Solutions Trading Up 0.7%

NYSE CCCS opened at $9.71 on Monday. The company’s 50-day moving average price is $9.54 and its 200-day moving average price is $9.42. 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 stock has a market cap of $6.32 billion, a PE ratio of 485.74 and a beta of 0.74. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $260.45 million for the quarter, compared to analysts’ expectations of $256.21 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Equities research analysts forecast 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.