Intech Investment Management LLC Grows Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Intech Investment Management LLC grew its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 33.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,795 shares of the company’s stock after purchasing an additional 3,937 shares during the quarter. Intech Investment Management LLC’s holdings in CCC Intelligent Solutions were worth $175,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CCCS. Vanguard Group Inc. raised its position in CCC Intelligent Solutions by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after purchasing an additional 4,225,920 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of CCC Intelligent Solutions by 37.8% in the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock valued at $280,530,000 after acquiring an additional 6,921,161 shares in the last quarter. Janus Henderson Group PLC lifted its stake in CCC Intelligent Solutions by 7.4% in the first quarter. Janus Henderson Group PLC now owns 12,469,424 shares of the company’s stock worth $149,133,000 after acquiring an additional 857,110 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in CCC Intelligent Solutions by 59.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,312,688 shares of the company’s stock worth $123,340,000 after acquiring an additional 3,861,020 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in CCC Intelligent Solutions by 26.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 8,009,885 shares of the company’s stock valued at $88,990,000 after purchasing an additional 1,699,545 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Insider Activity

In other CCC Intelligent Solutions news, insider Brian Herb sold 20,887 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total transaction of $213,882.88. Following the sale, the insider now owns 217,872 shares of the company’s stock, valued at approximately $2,231,009.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Brian Herb sold 20,887 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total transaction of $213,882.88. Following the completion of the sale, the insider now directly owns 217,872 shares in the company, valued at $2,231,009.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eileen Schloss sold 99,925 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.89, for a total value of $988,258.25. Following the completion of the transaction, the director now directly owns 54,047 shares in the company, valued at $534,524.83. The disclosure for this sale can be found here. Insiders have sold a total of 238,787 shares of company stock worth $2,418,609 over the last 90 days. 6.67% of the stock is currently owned by corporate insiders.

CCC Intelligent Solutions Price Performance

NYSE CCCS opened at $11.13 on Monday. The firm’s fifty day simple moving average is $10.68 and its two-hundred day simple moving average is $11.16. The firm has a market capitalization of $6.92 billion, a P/E ratio of -53.00, a P/E/G ratio of 6.35 and a beta of 0.62. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS) last announced its earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $232.60 million for the quarter, compared to analyst estimates of $230.16 million. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 EPS. Analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCCS. Jefferies Financial Group lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Bank of America started coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price for the company. Finally, Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.75.

About CCC Intelligent Solutions

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.