CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 7.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 216,667 shares of the company’s stock after selling 17,703 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CCC Intelligent Solutions were worth $2,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCCS. Park Place Capital Corp grew its holdings in shares of CCC Intelligent Solutions by 65.9% during the 4th quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock worth $48,000 after purchasing an additional 1,659 shares during the period. Covestor Ltd raised its stake in shares of CCC Intelligent Solutions by 781.7% in the 3rd quarter. Covestor Ltd now owns 6,895 shares of the company’s stock valued at $92,000 after acquiring an additional 6,113 shares during the period. Parkside Financial Bank & Trust acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at $99,000. Envestnet Portfolio Solutions Inc. purchased a new stake in CCC Intelligent Solutions during the 3rd quarter worth $143,000. Finally, Clear Street Markets LLC purchased a new position in CCC Intelligent Solutions in the third quarter valued at about $160,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CCCS. Evercore ISI raised their target price on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Piper Sandler boosted their target price on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday. Barclays boosted their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Finally, Citigroup restated a “buy” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

CCC Intelligent Solutions Price Performance

CCCS opened at $10.55 on Thursday. The company has a market capitalization of $6.38 billion, a P/E ratio of -50.24 and a beta of 0.62. The company has a 50-day moving average of $11.75 and a 200-day moving average of $11.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.29 and a current ratio of 2.29. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.42 and a 1-year high of $13.41.

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

Insiders Place Their Bets

In other news, SVP Marc Fredman sold 324,952 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $12.15, for a total value of $3,948,166.80. Following the transaction, the senior vice president now directly owns 212,542 shares in the company, valued at approximately $2,582,385.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 30,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.50, for a total value of $375,000.00. Following the sale, the chief accounting officer now directly owns 14,154 shares in the company, valued at $176,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Fredman sold 324,952 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $12.15, for a total transaction of $3,948,166.80. Following the transaction, the senior vice president now directly owns 212,542 shares of the company’s stock, valued at $2,582,385.30. The disclosure for this sale can be found here. Insiders sold a total of 59,706,755 shares of company stock valued at $681,785,331 over the last 90 days. 6.67% of the stock is owned by company insiders.

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.