Pinebridge Investments L.P. Buys 224,000 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Pinebridge Investments L.P. grew its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCSFree Report) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,155,738 shares of the company’s stock after acquiring an additional 224,000 shares during the period. Pinebridge Investments L.P.’s holdings in CCC Intelligent Solutions were worth $13,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CCCS. Bank of Nova Scotia bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $390,000. Capstone Investment Advisors LLC bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $334,000. TD Asset Management Inc boosted its stake in shares of CCC Intelligent Solutions by 11.7% during the fourth quarter. TD Asset Management Inc now owns 2,385,794 shares of the company’s stock valued at $27,174,000 after purchasing an additional 249,456 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of CCC Intelligent Solutions by 118.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,782,805 shares of the company’s stock valued at $31,696,000 after purchasing an additional 1,506,381 shares in the last quarter. Finally, Freemont Management S.A. boosted its stake in shares of CCC Intelligent Solutions by 210.3% during the fourth quarter. Freemont Management S.A. now owns 995,900 shares of the company’s stock valued at $11,343,000 after purchasing an additional 675,000 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Get Our Latest Research Report on CCCS

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS remained flat at $11.45 during midday trading on Thursday. 2,984,930 shares of the company’s stock were exchanged, compared to its average volume of 3,563,513. The company’s 50-day moving average is $11.38 and its 200-day moving average is $11.41. The company has a market cap of $7.12 billion, a PE ratio of -54.52, a P/E/G ratio of 5.47 and a beta of 0.62. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $10.32 and a fifty-two week high of $13.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.53 and a current ratio of 2.53.

CCC Intelligent Solutions (NYSE:CCCSGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $227.24 million during the quarter, compared to analysts’ expectations of $225.21 million. CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. Analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director International L.P. Advent sold 41,622,992 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $11.43, for a total transaction of $475,750,798.56. Following the completion of the transaction, the director now owns 3,812,112 shares of the company’s stock, valued at $43,572,440.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director International L.P. Advent sold 41,622,992 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $11.43, for a total transaction of $475,750,798.56. Following the completion of the transaction, the director now owns 3,812,112 shares of the company’s stock, valued at $43,572,440.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian Herb sold 19,742 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $11.88, for a total transaction of $234,534.96. Following the sale, the insider now owns 288,076 shares in the company, valued at approximately $3,422,342.88. The disclosure for this sale can be found here. Insiders sold a total of 61,241,087 shares of company stock valued at $703,787,322 over the last 90 days. Insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for CCC Intelligent Solutions (NYSE:CCCS)

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