CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Bought by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. grew its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.5% during the fourth quarter, Holdings Channel reports. The firm owned 244,951 shares of the company’s stock after acquiring an additional 5,951 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in CCC Intelligent Solutions were worth $2,873,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CCCS. CIBC Asset Management Inc boosted its holdings in CCC Intelligent Solutions by 5.9% in the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock valued at $223,000 after purchasing an additional 1,054 shares during the period. Berry Wealth Group LP boosted its holdings in CCC Intelligent Solutions by 5.8% in the fourth quarter. Berry Wealth Group LP now owns 20,224 shares of the company’s stock valued at $237,000 after purchasing an additional 1,109 shares during the period. Arizona State Retirement System boosted its holdings in CCC Intelligent Solutions by 1.0% in the fourth quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock valued at $1,378,000 after purchasing an additional 1,150 shares during the period. Treasurer of the State of North Carolina boosted its holdings in CCC Intelligent Solutions by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 198,807 shares of the company’s stock valued at $2,332,000 after purchasing an additional 1,250 shares during the period. Finally, Townsquare Capital LLC boosted its holdings in CCC Intelligent Solutions by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 24,338 shares of the company’s stock valued at $285,000 after purchasing an additional 1,475 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCCS has been the subject of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Morgan Stanley decreased their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, Barclays decreased their price target 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. Three equities 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 stock currently has an average rating of “Moderate Buy” and an average price target of $12.19.

Insider Activity

In related news, insider Timothy A. Welsh purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the transaction, the insider now directly owns 168,472 shares of the company’s stock, valued at approximately $1,521,302.16. The trade was a 146.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rodney Christo sold 5,846 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total value of $53,490.90. The disclosure for this sale can be found here. In the last three months, insiders sold 42,087,456 shares of company stock valued at $434,240,401. Insiders own 6.03% of the company’s stock.

CCC Intelligent Solutions Stock Up 0.3%

CCC Intelligent Solutions stock opened at $9.15 on Tuesday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two 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. The company has a market capitalization of $6.03 billion, a P/E ratio of 457.73 and a beta of 0.76. The stock has a 50-day simple moving average of $8.95 and a 200-day simple moving average of $10.50.

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

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.