Bank of America Corp DE Has $91.16 Million Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Bank of America Corp DE reduced its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,771,111 shares of the company's stock after selling 46,181 shares during the period. Bank of America Corp DE owned approximately 1.18% of CCC Intelligent Solutions worth $91,155,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CCCS. Barclays PLC boosted its position in CCC Intelligent Solutions by 155.7% in the 3rd quarter. Barclays PLC now owns 109,020 shares of the company's stock valued at $1,205,000 after buying an additional 66,386 shares during the last quarter. Tidal Investments LLC purchased a new position in CCC Intelligent Solutions in the 3rd quarter valued at about $117,000. JPMorgan Chase & Co. boosted its position in CCC Intelligent Solutions by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company's stock valued at $5,016,000 after buying an additional 85,725 shares during the last quarter. GAMMA Investing LLC boosted its position in CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock valued at $39,000 after buying an additional 2,479 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in CCC Intelligent Solutions in the 4th quarter valued at about $25,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CCCS. Morgan Stanley decreased their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Barclays reduced 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 research report on Monday, April 14th. Finally, Piper Sandler reduced their price target on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.19.

Insider Buying and Selling

In related news, CAO Rodney Christo sold 20,077 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timothy A. Welsh bought 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $9.03 per share, with a total value of $903,000.00. Following the completion of the acquisition, the insider now directly owns 168,472 shares of the company's stock, valued at $1,521,302.16. This represents a 146.05% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 42,087,456 shares of company stock worth $434,240,401. Corporate insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS traded up $0.14 during mid-day trading on Friday, reaching $9.12. 6,270,856 shares of the company traded hands, compared to its average volume of 4,905,688. 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 current ratio of 3.19 and a quick ratio of 3.19. The firm has a market cap of $6.01 billion, a PE ratio of 456.23 and a beta of 0.76. The stock has a fifty day simple moving average of $8.95 and a 200-day simple moving average of $10.51.

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