Trust Point Inc. Sells 32,465 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Trust Point Inc. decreased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 46.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,117 shares of the company’s stock after selling 32,465 shares during the quarter. Trust Point Inc.’s holdings in CCC Intelligent Solutions were worth $335,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CCCS. TD Private Client Wealth LLC bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $31,000. Quarry LP purchased a new position in CCC Intelligent Solutions during the 4th quarter worth $36,000. First Horizon Advisors Inc. increased its holdings in CCC Intelligent Solutions by 90.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company’s stock worth $69,000 after purchasing an additional 2,805 shares during the period. Smartleaf Asset Management LLC raised its position in CCC Intelligent Solutions by 27.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,258 shares of the company’s stock valued at $86,000 after purchasing an additional 1,546 shares in the last quarter. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth $124,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CCCS. Barclays cut their price target on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Morgan Stanley reduced their price target on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. The Goldman Sachs Group dropped their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, CCC Intelligent Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $12.19.

CCC Intelligent Solutions Stock Up 2.1%

NYSE:CCCS opened at $9.09 on Wednesday. The company’s 50-day simple moving average is $8.91 and its 200-day simple moving average is $10.07. 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 Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $12.88. The stock has a market capitalization of $5.99 billion, a P/E ratio of 454.73 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last announced 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 net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. During the same period last year, the firm earned $0.09 earnings per share. CCC Intelligent Solutions’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the completion of the transaction, the director now owns 54,047 shares of the company’s stock, valued at approximately $485,342.06. This trade represents a 38.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $8.54 per share, with a total value of $854,000.00. Following the completion of the purchase, the director now directly owns 213,429 shares of the company’s stock, valued at approximately $1,822,683.66. This trade represents a 88.16% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 60,067,379 shares of company stock valued at $545,395,616 in the last ninety days. Corporate insiders own 6.03% of the company’s stock.

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.