CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Simplicity Solutions LLC

Simplicity Solutions LLC trimmed its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 22.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,448 shares of the company’s stock after selling 3,093 shares during the period. Simplicity Solutions LLC’s holdings in CCC Intelligent Solutions were worth $119,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CCCS. T. Rowe Price Investment Management Inc. lifted its stake in shares of CCC Intelligent Solutions by 0.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 29,864,967 shares of the company’s stock valued at $259,826,000 after purchasing an additional 108,949 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of CCC Intelligent Solutions by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,765,795 shares of the company’s stock valued at $237,173,000 after purchasing an additional 1,188,369 shares in the last quarter. Invesco Ltd. lifted its stake in shares of CCC Intelligent Solutions by 19.2% in the 3rd quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock valued at $104,437,000 after purchasing an additional 1,260,457 shares in the last quarter. Riverbridge Partners LLC lifted its stake in shares of CCC Intelligent Solutions by 41.6% in the 4th quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock valued at $77,865,000 after purchasing an additional 2,009,175 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of CCC Intelligent Solutions by 11.7% in the 2nd quarter. BlackRock Inc. now owns 6,635,331 shares of the company’s stock valued at $74,382,000 after purchasing an additional 696,126 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the sale, the director now directly owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lauren Young sold 41,165,139 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the sale, the director now directly owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Herb sold 23,521 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $11.81, for a total value of $277,783.01. Following the completion of the sale, the insider now owns 288,076 shares of the company’s stock, valued at $3,402,177.56. The disclosure for this sale can be found here. Insiders have sold 59,648,839 shares of company stock worth $681,118,139 in the last three months. 6.47% of the stock is owned by insiders.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $11.44 on Monday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.42 and a 52-week high of $13.41. The stock’s 50 day moving average is $11.74 and its two-hundred day moving average is $11.52. The company has a market capitalization of $6.92 billion, a PE ratio of -54.48 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last posted 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). CCC Intelligent Solutions had a positive return on equity of 5.80% and a negative net margin of 10.67%. The business had revenue of $228.60 million for the quarter, compared to analysts’ expectations of $222.80 million. Analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.