CCC Intelligent Solutions Holdings Inc. $CCCS Position Reduced by Advent International L.P.

Advent International L.P. lowered its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 30.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,342,526 shares of the company’s stock after selling 30,000,000 shares during the quarter. CCC Intelligent Solutions makes up about 20.6% of Advent International L.P.’s portfolio, making the stock its 2nd biggest position. Advent International L.P. owned approximately 10.34% of CCC Intelligent Solutions worth $633,693,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CCCS. Triple Frond Partners LLC increased its position in CCC Intelligent Solutions by 30.7% during the 2nd quarter. Triple Frond Partners LLC now owns 3,156,000 shares of the company’s stock valued at $29,698,000 after buying an additional 741,000 shares in the last quarter. Alfreton Capital LLP grew its position in CCC Intelligent Solutions by 381.0% during the 2nd quarter. Alfreton Capital LLP now owns 7,000,000 shares of the company’s stock worth $65,870,000 after purchasing an additional 5,544,792 shares during the period. Homestead Advisers Corp grew its stake in shares of CCC Intelligent Solutions by 36.0% during the 2nd quarter. Homestead Advisers Corp now owns 374,000 shares of the company’s stock worth $3,519,000 after purchasing an additional 99,000 shares during the period. New York Life Investment Management LLC purchased a new stake in shares of CCC Intelligent Solutions during the 2nd quarter worth about $493,000. Finally, Rivulet Capital LLC raised its stake in shares of CCC Intelligent Solutions by 45.8% during the 2nd quarter. Rivulet Capital LLC now owns 6,489,070 shares of the company’s stock worth $61,062,000 after buying an additional 2,039,370 shares during the period. Institutional investors own 95.79% of the company’s stock.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider John Page Goodson sold 150,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $9.59, for a total value of $1,438,500.00. Following the completion of the sale, the insider owned 157,478 shares of the company’s stock, valued at approximately $1,510,214.02. This trade represents a 48.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.03% of the company’s stock.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $7.22 on Friday. The firm has a 50-day simple moving average of $8.12 and a 200-day simple moving average of $9.02. 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 market capitalization of $4.70 billion, a price-to-earnings ratio of 361.18 and a beta of 0.72. 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 released its quarterly earnings results on Thursday, October 30th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $267.12 million during the quarter, compared to analysts’ expectations of $265.01 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 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, equities research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on CCCS. Piper Sandler cut their price objective on CCC Intelligent Solutions from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Friday, October 31st. Jefferies Financial Group set a $11.00 price target on CCC Intelligent Solutions in a research note on Thursday, October 30th. Stifel Nicolaus cut their target price on CCC Intelligent Solutions from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, October 27th. Finally, Barclays reduced their price target on CCC Intelligent Solutions from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.38.

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.