Adero Partners LLC Sells 640,149 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Adero Partners LLC decreased its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 11.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,890,424 shares of the company's stock after selling 640,149 shares during the period. CCC Intelligent Solutions comprises about 2.9% of Adero Partners LLC's investment portfolio, making the stock its 11th biggest holding. Adero Partners LLC owned 0.74% of CCC Intelligent Solutions worth $44,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CCCS. T. Rowe Price Investment Management Inc. grew its holdings in CCC Intelligent Solutions by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock valued at $807,807,000 after purchasing an additional 4,060,284 shares during the period. Vanguard Group Inc. grew its holdings in CCC Intelligent Solutions by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock valued at $602,772,000 after purchasing an additional 847,334 shares during the period. Principal Financial Group Inc. boosted its stake in shares of CCC Intelligent Solutions by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company's stock worth $316,001,000 after acquiring an additional 455,040 shares during the period. Brown Advisory Inc. boosted its stake in shares of CCC Intelligent Solutions by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company's stock worth $164,613,000 after acquiring an additional 299,943 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of 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 acquiring an additional 9,607,085 shares during the period. Institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCCS. Barclays dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Barrington Research reissued an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Finally, Morgan Stanley dropped their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.19.

Insider Activity

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the acquisition, the director now owns 213,429 shares in the company, valued at approximately $1,822,683.66. This represents a 88.16% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Young sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the sale, the director now owns 1,562,344 shares in the company, 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. Insiders have sold 60,067,379 shares of company stock worth $545,395,616 in the last ninety days. Company insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock opened at $8.80 on Monday. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 440.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The business has a fifty day moving average of $8.89 and a 200 day moving average of $10.11. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 earnings per share 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%. The company's revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. As a group, research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

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.

Want to see what other hedge funds are holding CCCS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.