144,876 Shares in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 144,876 shares of the company’s stock, valued at approximately $1,699,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. purchased a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $28,000. TD Private Client Wealth LLC bought a new position in CCC Intelligent Solutions during the fourth quarter valued at about $31,000. Quarry LP bought a new position in CCC Intelligent Solutions during the fourth quarter valued at about $36,000. Financial Management Professionals Inc. bought a new position in CCC Intelligent Solutions during the fourth quarter valued at about $54,000. Finally, First Horizon Advisors Inc. raised its holdings in CCC Intelligent Solutions by 90.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company’s stock valued at $69,000 after buying an additional 2,805 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Timothy A. Welsh bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $9.03 per share, with a total value of $903,000.00. Following the completion of the transaction, the insider now directly owns 168,472 shares in the company, valued at $1,521,302.16. This represents a 146.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. This trade represents a 94.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last three months. 6.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

CCC Intelligent Solutions Trading Up 1.6%

Shares of NYSE:CCCS opened at $9.12 on Friday. The company has a market cap of $6.01 billion, a P/E ratio of 456.23 and a beta of 0.76. The stock’s 50-day moving average is $8.95 and its 200-day moving average is $10.51. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.14 and a 52-week high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

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

CCC Intelligent Solutions Company 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.