Avenir Corp Sells 107,282 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Avenir Corp cut its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,736,507 shares of the company's stock after selling 107,282 shares during the period. CCC Intelligent Solutions comprises about 2.1% of Avenir Corp's holdings, making the stock its 14th largest position. Avenir Corp owned about 0.26% of CCC Intelligent Solutions worth $20,369,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CCCS. NewEdge Advisors LLC raised its position in shares of CCC Intelligent Solutions by 23.1% in the fourth quarter. NewEdge Advisors LLC now owns 25,945 shares of the company's stock valued at $304,000 after buying an additional 4,872 shares during the last quarter. Bridgewater Associates LP acquired a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at $929,000. Mariner LLC increased its holdings in shares of CCC Intelligent Solutions by 2.7% during the 4th quarter. Mariner LLC now owns 71,244 shares of the company's stock worth $836,000 after buying an additional 1,878 shares during the last quarter. Barclays PLC raised its position in shares of CCC Intelligent Solutions by 357.3% in the 4th quarter. Barclays PLC now owns 498,560 shares of the company's stock worth $5,849,000 after buying an additional 389,540 shares during the period. Finally, Synovus Financial Corp grew its position in CCC Intelligent Solutions by 2.2% during the fourth quarter. Synovus Financial Corp now owns 233,413 shares of the company's stock valued at $2,738,000 after acquiring an additional 5,009 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction on 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 completion of the transaction, the director now owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eileen Schloss sold 34,055 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.98, for a total transaction of $305,813.90. Following the completion of the transaction, the director now directly owns 54,047 shares of the company's stock, valued at approximately $485,342.06. This represents a 38.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,087,456 shares of company stock worth $434,240,401. 6.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CCCS has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Morgan Stanley lowered 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. Barclays cut their price target on shares of 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. Finally, Piper Sandler reissued a "neutral" rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.57.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock traded up $0.11 during trading hours on Tuesday, reaching $8.57. 2,207,521 shares of the company were exchanged, compared to its average volume of 7,352,377. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The stock has a 50-day moving average of $9.38 and a 200 day moving average of $10.76. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 428.46 and a beta of 0.77.

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.