Aigen Investment Management LP Buys Shares of 42,403 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Aigen Investment Management LP has acquired 42,403 shares of CCC Intelligent Solutions Holdings Inc. valued at approximately $383,000 in the 1st quarter.
• Insiders, including directors Lauren Young and Eric Wei, have sold significant portions of their shares, each reducing their ownership by 97.19% after selling 30 million shares at $9.87 each.
• CCC Intelligent Solutions reported a quarterly earnings per share of $0.09, exceeding analysts' expectations, while its current stock price is around $9.34, with a market capitalization of $6.08 billion.

Aigen Investment Management LP acquired a new position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 42,403 shares of the company's stock, valued at approximately $383,000.

A number of other hedge funds have also recently added to or reduced their stakes in CCCS. T. Rowe Price Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 4,060,284 shares during the period. Vanguard Group Inc. boosted its holdings in shares of CCC Intelligent Solutions by 9.9% during the first quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company's stock valued at $510,114,000 after acquiring an additional 5,103,835 shares during the period. Principal Financial Group Inc. raised its stake in shares of CCC Intelligent Solutions by 1.4% during the first quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock valued at $246,551,000 after purchasing an additional 363,944 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of CCC Intelligent Solutions by 30.7% during the first quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock valued at $165,672,000 after purchasing an additional 4,313,296 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in shares of CCC Intelligent Solutions by 1.5% during the first quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company's stock valued at $112,327,000 after purchasing an additional 178,330 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock traded up $0.07 during midday trading on Friday, hitting $9.71. The company's stock had a trading volume of 6,360,427 shares, compared to its average volume of 7,612,759. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock's 50-day moving average price is $9.54 and its 200-day moving average price is $9.44. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The company has a market capitalization of $6.32 billion, a PE ratio of 485.74 and a beta of 0.74.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm had revenue of $260.45 million for the quarter, compared to analysts' expectations of $256.21 million. During the same period in the previous year, the business earned $0.09 earnings per share. CCC Intelligent Solutions's revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CCCS has been the topic of a number of recent analyst reports. Piper Sandler restated a "neutral" rating and set a $10.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday. Barrington Research restated an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, August 4th. The Goldman Sachs Group cut their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Barclays lifted their price objective on shares of CCC Intelligent Solutions from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. cut 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 note on Monday, June 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of "Hold" and an average price target of $12.21.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 30,000,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the sale, the director owned 866,345 shares in the company, valued at approximately $8,550,825.15. The trade was a 97.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the business's stock in a transaction on 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 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 position. The disclosure for this purchase can be found here. Insiders have sold a total of 120,005,302 shares of company stock valued at $1,137,051,748 in the last ninety days. 6.03% of the stock is owned by insiders.

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.