Principal Financial Group Inc. Boosts Stake in CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Principal Financial Group Inc. raised its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) by 3.2% during the 1st quarter, Holdings Channel reports. The fund owned 37,848,476 shares of the company’s stock after purchasing an additional 1,189,466 shares during the period. Principal Financial Group Inc. owned about 0.06% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $227,091,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Root Financial Partners LLC lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% during the 1st quarter. Root Financial Partners LLC now owns 4,858 shares of the company’s stock worth $29,000 after purchasing an additional 4,644 shares during the last quarter. Essex Financial Services Inc. purchased a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter valued at about $61,000. Citizens Financial Group Inc. RI bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter worth about $65,000. MQS Management LLC bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter worth about $90,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at about $116,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CCC shares. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday, April 24th. Weiss Ratings upgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $8.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Saturday, May 9th. Citigroup downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $6.00 in a research report on Friday, April 10th. Finally, Wall Street Zen upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.25.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

Shares of CCC stock opened at $6.07 on Wednesday. The company has a 50-day moving average price of $4.88. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 101.18 and a beta of 0.51. 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.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The business 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 business’s revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 earnings per share for the current year.

CCC Intelligent Solutions Holdings Inc. Common Stock Profile

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.