Bridgewater Associates LP Buys Shares of 79,167 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Bridgewater Associates LP purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 79,167 shares of the company's stock, valued at approximately $929,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eagle Bay Advisors LLC purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $25,000. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $28,000. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $31,000. GAMMA Investing LLC grew 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 worth $39,000 after buying an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on 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. Morgan Stanley lowered their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Barrington Research reissued an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, CCC Intelligent Solutions currently has an average rating of "Moderate Buy" and an average price target of $12.57.

CCC Intelligent Solutions Stock Up 1.4 %

CCCS stock traded up $0.13 during midday trading on Thursday, hitting $8.96. 1,174,982 shares of the company's stock were exchanged, compared to its average volume of 4,648,247. 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 firm has a 50 day moving average price of $9.29 and a 200-day moving average price of $10.74. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 448.47 and a beta of 0.77.

Insider Activity

In related news, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares in the company, valued at $23,306,099.76. This trade represents a 94.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the completion of the sale, the director now owns 54,047 shares in the company, 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 ninety days, insiders sold 42,087,456 shares of company stock worth $434,240,401. 6.67% of the stock is currently owned by insiders.

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.