OVERSEA CHINESE BANKING Corp Ltd Sells 10,200 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 47.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,500 shares of the company’s stock after selling 10,200 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in CCC Intelligent Solutions were worth $131,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brown Advisory Inc. grew its holdings in CCC Intelligent Solutions by 306.4% in the 3rd quarter. Brown Advisory Inc. now owns 4,562,530 shares of the company’s stock worth $60,910,000 after acquiring an additional 3,439,776 shares during the last quarter. Riverbridge Partners LLC grew its stake in shares of CCC Intelligent Solutions by 41.6% in the fourth quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock worth $77,865,000 after purchasing an additional 2,009,175 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in CCC Intelligent Solutions by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,451,668 shares of the company’s stock valued at $73,484,000 after purchasing an additional 1,528,766 shares during the period. Artisan Partners Limited Partnership bought a new position in CCC Intelligent Solutions during the 3rd quarter valued at approximately $17,040,000. Finally, Invesco Ltd. lifted its holdings in CCC Intelligent Solutions by 19.2% in the 3rd quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock worth $104,437,000 after buying an additional 1,260,457 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CCC Intelligent Solutions

In other news, CAO Rodney Christo sold 30,000 shares of CCC Intelligent Solutions stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.50, for a total transaction of $375,000.00. Following the transaction, the chief accounting officer now owns 14,154 shares in the company, valued at approximately $176,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other CCC Intelligent Solutions news, SVP Marc Fredman sold 9,871 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $11.88, for a total transaction of $117,267.48. Following the sale, the senior vice president now owns 212,542 shares in the company, valued at approximately $2,524,998.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rodney Christo sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.50, for a total transaction of $375,000.00. Following the completion of the transaction, the chief accounting officer now owns 14,154 shares of the company’s stock, valued at $176,925. The disclosure for this sale can be found here. Insiders have sold 59,648,839 shares of company stock worth $681,118,139 in the last quarter. Company insiders own 6.47% of the company’s stock.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock opened at $11.40 on Tuesday. The firm has a market capitalization of $6.89 billion, a PE ratio of -54.29 and a beta of 0.62. The company has a 50 day moving average price of $11.74 and a 200-day moving average price of $11.52. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.42 and a 52 week high of $13.41. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.43.

CCC Intelligent Solutions (NYSE:CCCS) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $228.60 million for the quarter, compared to analysts’ expectations of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. As a group, equities research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CCCS shares. Evercore ISI boosted their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Citigroup reiterated a “buy” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Barrington Research reissued an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Thursday, February 29th. Piper Sandler lifted their price target on CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Barclays upped their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.63.

CCC Intelligent Solutions 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.