Commonwealth Equity Services LLC Takes $6.97 Million Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Posted by on Aug 3rd, 2022

Commonwealth Equity Services LLC bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 631,142 shares of the company’s stock, valued at approximately $6,967,000. Commonwealth Equity Services LLC owned 0.10% of CCC Intelligent Solutions at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Psagot Value Holdings Ltd. Israel lifted its stake in CCC Intelligent Solutions by 128.5% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 2,324 shares of the company’s stock worth $26,000 after acquiring an additional 1,307 shares during the period. Bluefin Capital Management LLC purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth about $139,000. Privium Fund Management UK Ltd purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth about $189,000. Context Capital Management LLC purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth about $219,000. Finally, CIBC Asset Management Inc purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth about $289,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Performance

CCCS opened at $9.80 on Wednesday. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $7.41 and a 52-week high of $13.46. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.41. The company has a market cap of $6.02 billion, a P/E ratio of 4.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.86. The firm’s 50-day moving average price is $9.30 and its 200-day moving average price is $9.74.

CCC Intelligent Solutions (NYSE:CCCS – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. CCC Intelligent Solutions had a negative net margin of 32.32% and a negative return on equity of 1.57%. The firm had revenue of $186.82 million for the quarter, compared to the consensus estimate of $183.35 million. As a group, equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CCCS shares. The Goldman Sachs Group raised shares of CCC Intelligent Solutions from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, July 13th. Jefferies Financial Group initiated coverage on shares of CCC Intelligent Solutions in a research report on Friday, July 8th. They set a “buy” rating and a $12.00 price target for the company. Finally, Bank of America initiated coverage on shares of CCC Intelligent Solutions in a research report on Friday, June 3rd. They set a “buy” rating and a $13.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.83.

About CCC Intelligent Solutions

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CCC Intelligent Solutions Holdings Inc provides cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. It SaaS platform digitizes mission-critical AI-enabled workflows, facilitates commerce, and connects businesses across the insurance economy, including insurance carriers, collision repairers, parts suppliers, automotive manufactures, financial institution, and others.

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

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