Brown Advisory Inc. Acquires 299,943 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Brown Advisory Inc. grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,033,496 shares of the company's stock after buying an additional 299,943 shares during the quarter. Brown Advisory Inc. owned 2.14% of CCC Intelligent Solutions worth $164,613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in CCC Intelligent Solutions by 4,172.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company's stock worth $115,394,000 after purchasing an additional 9,607,085 shares during the last quarter. Norges Bank bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth $50,032,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of CCC Intelligent Solutions by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock worth $807,807,000 after buying an additional 4,060,284 shares during the last quarter. JPMorgan Chase & Co. grew its position in CCC Intelligent Solutions by 753.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,873,418 shares of the company's stock valued at $45,435,000 after buying an additional 3,419,507 shares during the period. Finally, Pamalican Asset Management Ltd bought a new position in CCC Intelligent Solutions during the fourth quarter valued at about $33,773,000. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS traded up $0.07 during mid-day trading on Friday, hitting $9.01. The company had a trading volume of 3,363,425 shares, compared to its average volume of 4,815,174. 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 1 year low of $8.14 and a 1 year high of $12.88. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 450.73 and a beta of 0.76. The stock's 50-day moving average price is $8.99 and its 200-day moving average price is $10.59.

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

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Eric Wei sold 42,000,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value 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 trade represents a 94.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the business'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 transaction of $236,310.80. Following the completion of the transaction, the director now directly owns 26,569 shares of the company's stock, valued at approximately $228,493.40. This represents a 50.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,087,456 shares of company stock valued at $434,240,401 in the last three months. Company insiders own 6.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CCCS. Piper Sandler dropped their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday. Barclays dropped their price objective 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. The Goldman Sachs Group decreased their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research report on Wednesday. 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 research note on Wednesday, April 16th. Finally, Barrington Research reiterated an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $12.19.

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.