CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stake Boosted by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd increased its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 104.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,805 shares of the company’s stock after purchasing an additional 7,553 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in CCC Intelligent Solutions were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its stake in CCC Intelligent Solutions by 6.3% in 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 purchasing an additional 4,060,284 shares in the last quarter. Vanguard Group Inc. grew its stake in CCC Intelligent Solutions by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company’s stock valued at $510,114,000 after acquiring an additional 5,103,835 shares in the last quarter. Principal Financial Group Inc. grew its stake in CCC Intelligent Solutions by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company’s stock valued at $246,551,000 after acquiring an additional 363,944 shares in the last quarter. Brown Advisory Inc. grew its stake in CCC Intelligent Solutions by 30.7% during the 1st quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company’s stock valued at $165,672,000 after acquiring an additional 4,313,296 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in CCC Intelligent Solutions by 1.5% during the 1st quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company’s stock valued at $112,327,000 after acquiring an additional 178,330 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling

In related news, CAO Rodney Christo sold 5,302 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $9.76, for a total value of $51,747.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Young sold 30,000,000 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $9.87, for a total value of $296,100,000.00. Following the completion of the sale, the director 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. Insiders have sold a total of 120,005,302 shares of company stock valued at $1,137,051,748 in the last quarter. Company insiders own 6.03% of the company’s stock.

CCC Intelligent Solutions Stock Up 3.4%

Shares of CCC Intelligent Solutions stock opened at $9.66 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 483.24 and a beta of 0.74. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.14 and a 52-week high of $12.88. The stock has a 50-day simple moving average of $9.51 and a 200-day simple moving average of $9.47.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $260.45 million for the quarter, compared to the consensus estimate 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 quarterly revenue 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. On average, equities research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCCS has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Barrington Research reaffirmed an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Monday, August 4th. Piper Sandler lowered their target price on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price 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. Finally, Barclays lifted their target price on CCC Intelligent Solutions from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Hold” and a consensus price target of $12.07.

CCC Intelligent Solutions Company 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.