Public Employees Retirement System of Ohio Trims Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Public Employees Retirement System of Ohio lessened its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 155,316 shares of the company’s stock after selling 8,892 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in CCC Intelligent Solutions were worth $1,822,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth about $31,000. Quarry LP acquired a new stake in CCC Intelligent Solutions during the 4th quarter valued at approximately $36,000. First Horizon Advisors Inc. boosted its holdings in shares of CCC Intelligent Solutions by 90.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company’s stock valued at $69,000 after acquiring an additional 2,805 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of CCC Intelligent Solutions by 27.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,258 shares of the company’s stock valued at $86,000 after acquiring an additional 1,546 shares during the last quarter. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at $124,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CCCS shares. Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. Barclays decreased their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Piper Sandler dropped their target price on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley reduced their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $12.19.

CCC Intelligent Solutions Stock Up 0.6%

Shares of CCCS opened at $8.81 on Monday. The firm has a market cap of $5.81 billion, a P/E ratio of 440.72 and a beta of 0.76. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The stock’s 50 day moving average is $8.86 and its two-hundred day moving average is $10.34. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $251.57 million for the quarter, compared to analysts’ expectations of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 EPS. Analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $8.54 per share, with a total value of $854,000.00. Following the purchase, the director now owns 213,429 shares in the company, valued at $1,822,683.66. This trade represents a 88.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rodney Christo sold 5,846 shares of CCC Intelligent Solutions stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total transaction of $53,490.90. The disclosure for this sale can be found here. Insiders sold a total of 60,067,379 shares of company stock worth $545,395,616 in the last 90 days. Insiders own 6.03% of the company’s stock.

About CCC Intelligent Solutions

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.