Allspring Global Investments Holdings LLC Sells 2,197,511 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Allspring Global Investments Holdings LLC lessened its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 27.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,866,931 shares of the company's stock after selling 2,197,511 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.89% of CCC Intelligent Solutions worth $53,154,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new stake in CCC Intelligent Solutions in the fourth quarter valued at approximately $31,000. Quarry LP bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $36,000. Smartleaf Asset Management LLC increased its position in shares of CCC Intelligent Solutions by 27.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 7,258 shares of the company's stock worth $86,000 after acquiring an additional 1,546 shares in the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $124,000. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $133,000. Institutional investors own 95.79% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CCCS. Piper Sandler lowered their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered 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 research report on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barrington Research reissued an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 target price for the company. in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.06.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eric Wei sold 30,000,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total value of $272,400,000.00. Following the transaction, the director now directly owns 1,562,344 shares of the company's stock, valued at $14,186,083.52. This represents a 95.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the transaction, the director now directly owns 213,429 shares of the company's stock, valued at approximately $1,822,683.66. This trade represents a 88.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 60,027,478 shares of company stock worth $545,036,311 over the last quarter. 6.03% of the stock is currently owned by insiders.

CCC Intelligent Solutions Stock Performance

Shares of CCCS opened at $9.41 on Monday. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The firm has a fifty day simple moving average of $8.99 and a 200 day simple moving average of $9.88. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 470.74 and a beta of 0.73. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting analysts' consensus estimates of $0.08. The firm had revenue of $251.57 million during the quarter, compared to analysts' expectations 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 for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. Research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

CCC Intelligent Solutions Company 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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