Quarry LP Invests $36,000 in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Quarry LP bought a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,100 shares of the company’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of CCC Intelligent Solutions by 4,172.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company’s stock valued at $115,394,000 after purchasing an additional 9,607,085 shares during the last quarter. Norges Bank acquired a new position in CCC Intelligent Solutions in the 4th quarter valued at $50,032,000. T. Rowe Price Investment Management Inc. increased its position in CCC Intelligent Solutions by 6.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company’s stock worth $807,807,000 after buying an additional 4,060,284 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of CCC Intelligent Solutions by 753.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,873,418 shares of the company’s stock worth $45,435,000 after buying an additional 3,419,507 shares in the last quarter. Finally, Pamalican Asset Management Ltd bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at about $33,773,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CCCS. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Barclays cut their price target on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Morgan Stanley lowered their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their target price for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Finally, Piper Sandler restated a “neutral” rating and issued a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.57.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 5,846 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total value of $53,490.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eileen Schloss sold 27,478 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the transaction, the director now owns 26,569 shares of the company’s stock, valued at $228,493.40. This trade represents a 50.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,087,456 shares of company stock valued at $434,240,401. 6.03% of the stock is currently owned by corporate insiders.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock opened at $9.26 on Friday. The stock has a fifty day moving average of $9.10 and a 200-day moving average of $10.65. The stock has a market capitalization of $6.10 billion, a P/E ratio of 463.23 and a beta of 0.77. 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 Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88.

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.