275,000 Shares in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Bought by Homestead Advisers Corp

Homestead Advisers Corp bought a new position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 275,000 shares of the company's stock, valued at approximately $2,483,000.

A number of other large investors also recently modified their holdings of CCCS. Avantax Advisory Services Inc. increased its holdings in CCC Intelligent Solutions by 5.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 28,625 shares of the company's stock worth $336,000 after acquiring an additional 1,527 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in CCC Intelligent Solutions by 122.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 72,627 shares of the company's stock valued at $852,000 after buying an additional 39,986 shares in the last quarter. Corient Private Wealth LLC grew its stake in CCC Intelligent Solutions by 130.3% in the 4th quarter. Corient Private Wealth LLC now owns 142,208 shares of the company's stock valued at $1,668,000 after buying an additional 80,459 shares in the last quarter. Xponance Inc. grew its stake in CCC Intelligent Solutions by 11.5% in the 4th quarter. Xponance Inc. now owns 23,060 shares of the company's stock valued at $270,000 after buying an additional 2,378 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in CCC Intelligent Solutions by 105.6% in the 4th quarter. Teacher Retirement System of Texas now owns 162,619 shares of the company's stock valued at $1,908,000 after buying an additional 83,533 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Stock Up 1.3%

Shares of CCC Intelligent Solutions stock traded up $0.13 during midday trading on Tuesday, hitting $9.82. The company's stock had a trading volume of 723,102 shares, compared to its average volume of 7,490,233. 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 Holdings Inc. has a 1-year low of $8.14 and a 1-year high of $12.88. The stock has a 50-day simple moving average of $9.20 and a 200-day simple moving average of $9.64. The firm has a market capitalization of $6.47 billion, a P/E ratio of 491.00 and a beta of 0.74.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on CCCS shares. The Goldman Sachs Group dropped their price objective 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. Morgan Stanley cut their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler dropped 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 note on Wednesday, May 7th. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective on the stock. in a research report on Monday, June 23rd. Finally, Barrington Research reaffirmed an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.06.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were bought at an average price of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the acquisition, the director owned 213,429 shares in the company, valued at approximately $1,822,683.66. This trade represents a 88.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Young sold 30,000,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the sale, the director directly owned 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.03% of the company's stock.

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.

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