Allspring Global Investments Holdings LLC Buys 1,528,766 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Allspring Global Investments Holdings LLC grew its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 31.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,451,668 shares of the company’s stock after acquiring an additional 1,528,766 shares during the period. Allspring Global Investments Holdings LLC owned 1.07% of CCC Intelligent Solutions worth $73,484,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Place Capital Corp grew its holdings in CCC Intelligent Solutions by 65.9% during the fourth 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. Captrust Financial Advisors bought a new position in CCC Intelligent Solutions during the second quarter worth about $53,000. Tower Research Capital LLC TRC grew its holdings in CCC Intelligent Solutions by 21.8% during the second quarter. Tower Research Capital LLC TRC now owns 5,403 shares of the company’s stock worth $61,000 after purchasing an additional 968 shares during the period. Quantbot Technologies LP lifted its position in CCC Intelligent Solutions by 252.1% during the first quarter. Quantbot Technologies LP now owns 5,735 shares of the company’s stock worth $63,000 after acquiring an additional 4,106 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in CCC Intelligent Solutions by 277.6% during the first quarter. Royal Bank of Canada now owns 7,696 shares of the company’s stock worth $85,000 after acquiring an additional 5,658 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays raised 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 research report on Thursday, February 29th. Morgan Stanley assumed coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $13.00 price objective for the company. Evercore ISI raised their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Thursday, February 29th. Finally, Piper Sandler lifted their price target 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.63.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 14,154 shares in the company, valued at $176,925. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the sale, the director now owns 5,164,022 shares of the company’s stock, valued at $58,508,369.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rodney Christo sold 30,000 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 14,154 shares in the company, valued at approximately $176,925. The disclosure for this sale can be found here. Insiders sold a total of 42,999,642 shares of company stock worth $488,320,438 over the last three months. Corporate insiders own 6.47% of the company’s stock.

CCC Intelligent Solutions Stock Up 0.9 %

NYSE CCCS opened at $11.89 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.42 and a 1-year high of $13.41. The company has a 50 day moving average of $11.65 and a 200-day moving average of $11.57. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 73.62 and a beta of 0.62.

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

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.