Bank of America Corp DE Sells 46,181 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Bank of America Corp DE decreased its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,771,111 shares of the company's stock after selling 46,181 shares during the quarter. Bank of America Corp DE owned about 1.18% of CCC Intelligent Solutions worth $91,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at $25,000. UMB Bank n.a. bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at $28,000. TD Private Client Wealth LLC bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at $31,000. Quarry LP bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at $36,000. Finally, GAMMA Investing LLC increased its holdings in shares of CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock valued at $39,000 after acquiring an additional 2,479 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CCCS shares. Morgan Stanley reduced their price objective 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. The Goldman Sachs Group reduced their price objective 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. Barclays reduced their price objective 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. Piper Sandler reduced their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.19.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock traded down $0.02 during trading hours on Wednesday, reaching $9.03. 5,609,895 shares of the company traded hands, compared to its average volume of 4,875,372. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company has a market cap of $5.95 billion, a P/E ratio of 451.73 and a beta of 0.76. The firm has a 50-day moving average price of $8.95 and a 200 day moving average price of $10.55.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $251.57 million for the quarter, compared to analysts' expectations of $249.87 million. During the same period in the previous year, the firm earned $0.09 EPS. The firm's revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Eric Wei sold 42,000,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares of the company's stock, valued at $23,306,099.76. This represents a 94.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total value of $236,310.80. Following the sale, the director now directly owns 26,569 shares in the company, valued at $228,493.40. This trade represents a 50.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. Corporate insiders own 6.03% of the company's stock.

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.