Northern Trust Corp Acquires 297,534 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Northern Trust Corp increased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,806,996 shares of the company's stock after purchasing an additional 297,534 shares during the period. Northern Trust Corp owned 0.43% of CCC Intelligent Solutions worth $32,926,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in CCC Intelligent Solutions by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company's stock valued at $5,016,000 after acquiring an additional 85,725 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at about $28,000. Barclays PLC raised its holdings in shares of CCC Intelligent Solutions by 155.7% in the third 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. Conestoga Capital Advisors LLC raised its holdings in shares of CCC Intelligent Solutions by 29.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company's stock valued at $143,822,000 after buying an additional 2,752,950 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of CCC Intelligent Solutions by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 903,510 shares of the company's stock valued at $10,598,000 after buying an additional 26,694 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Insiders Place Their Bets

In other news, Director Eileen Schloss sold 27,478 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the completion of the sale, the director now owns 26,569 shares of the company's stock, valued at approximately $228,493.40. The trade was a 50.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rodney Christo sold 20,077 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,087,456 shares of company stock worth $434,240,401. Company insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Price Performance

Shares of CCCS stock traded up $0.18 during mid-day trading on Friday, reaching $9.16. The company's stock had a trading volume of 2,142,537 shares, compared to its average volume of 4,883,311. 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 cap of $6.03 billion, a P/E ratio of 457.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The firm's 50-day moving average is $8.95 and its two-hundred day moving average is $10.52.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CCCS shares. The Goldman Sachs Group reduced their target price on shares of 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 cut their price target on shares of 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 dropped their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.19.

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.