Allspring Global Investments Holdings LLC Buys 138,669 Shares of CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Allspring Global Investments Holdings LLC grew its stake in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) by 11.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,301,112 shares of the company’s stock after purchasing an additional 138,669 shares during the period. Allspring Global Investments Holdings LLC owned about 0.22% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $7,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCC. Evolve Private Wealth LLC acquired a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth approximately $116,000. SG Americas Securities LLC acquired a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter valued at approximately $3,254,000. Krilogy Financial LLC acquired a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter valued at approximately $215,000. OP Asset Management Ltd bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter worth $816,000. Finally, Wasatch Advisors LP grew its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% during the first quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company’s stock worth $169,391,000 after buying an additional 5,440,768 shares during the last quarter. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Holdings Inc. Common Stock Price Performance

CCC opened at $5.74 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. CCC Intelligent Solutions Holdings Inc. Common Stock has a fifty-two week low of $4.08 and a fifty-two week high of $10.50. The stock’s 50 day simple moving average is $5.05. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 95.68 and a beta of 0.51.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $281.27 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.18% and a return on equity of 6.08%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts predict that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

CCC has been the subject of several research analyst reports. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Friday, April 24th. Weiss Ratings upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Citigroup cut CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $6.00 in a report on Friday, April 10th. Wall Street Zen upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $8.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions Holdings Inc. Common Stock currently has an average rating of “Hold” and an average target price of $9.25.

About CCC Intelligent Solutions Holdings Inc. Common Stock

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company’s SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.