CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Comerica Bank

Comerica Bank lowered its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003,804 shares of the company's stock after selling 61,184 shares during the quarter. Comerica Bank owned approximately 0.15% of CCC Intelligent Solutions worth $11,775,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of CCC Intelligent Solutions by 11.9% during the 4th quarter. Northern Trust Corp now owns 2,806,996 shares of the company's stock worth $32,926,000 after buying an additional 297,534 shares during the last quarter. Quarry LP purchased a new position in CCC Intelligent Solutions in the fourth quarter valued at $36,000. Susquehanna Fundamental Investments LLC acquired a new stake in CCC Intelligent Solutions in the fourth quarter valued at approximately $1,197,000. Coldstream Capital Management Inc. increased its holdings in CCC Intelligent Solutions by 12.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 20,494 shares of the company's stock valued at $240,000 after buying an additional 2,258 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in CCC Intelligent Solutions during the fourth quarter worth approximately $139,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Eric Wei sold 42,000,000 shares of the business'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 completion of the sale, the director now directly owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of the stock in a transaction that occurred on 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 quarter, insiders sold 42,087,456 shares of company stock worth $434,240,401. 6.03% of the stock is owned by corporate insiders.

CCC Intelligent Solutions Price Performance

Shares of CCCS traded down $0.91 on Tuesday, reaching $8.29. The stock had a trading volume of 14,237,137 shares, compared to its average volume of 4,752,967. The firm has a 50-day moving average of $9.08 and a 200 day moving average of $10.64. The firm has a market capitalization of $5.46 billion, a PE ratio of 414.46 and a beta of 0.76. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm's revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. Sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Barclays reduced 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 research report on Monday, April 14th. Morgan Stanley reduced their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Piper Sandler reissued a "neutral" rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $12.57.

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.