CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 42.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 986,831 shares of the company's stock after buying an additional 293,355 shares during the period. Ameriprise Financial Inc. owned approximately 0.15% of CCC Intelligent Solutions worth $11,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Consolidated Press International Holdings Ltd. lifted its position in CCC Intelligent Solutions by 13.1% during the 4th quarter. Consolidated Press International Holdings Ltd. now owns 110,700 shares of the company's stock worth $1,299,000 after acquiring an additional 12,800 shares during the period. Northern Trust Corp lifted its holdings in shares of CCC Intelligent Solutions by 11.9% during the fourth quarter. Northern Trust Corp now owns 2,806,996 shares of the company's stock worth $32,926,000 after purchasing an additional 297,534 shares during the period. Quarry LP purchased a new position in CCC Intelligent Solutions in the 4th quarter valued at $36,000. Susquehanna Fundamental Investments LLC purchased a new position in CCC Intelligent Solutions in the 4th quarter valued at $1,197,000. Finally, Coldstream Capital Management Inc. increased its stake in CCC Intelligent Solutions by 12.4% in the 4th 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 period. Hedge funds and other institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Price Performance

CCCS traded up $0.14 during trading on Thursday, reaching $8.80. 10,318,465 shares of the stock were exchanged, compared to its average volume of 5,012,824. 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 company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 440.22 and a beta of 0.76. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88. The business's 50 day moving average price is $8.93 and its two-hundred day moving average price is $10.48.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CCCS. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $14.00 to $11.00 in a research 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 for the company in a report on Wednesday, May 7th. Barclays dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler decreased their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.19.

Insider Activity

In related news, insider Timothy A. Welsh acquired 100,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the transaction, the insider now owns 168,472 shares in the company, valued at $1,521,302.16. This trade represents a 146.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Rodney Christo sold 20,077 shares of the firm's stock in a transaction dated 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. Insiders have sold 42,087,456 shares of company stock worth $434,240,401 over the last ninety days. 6.03% of the stock is currently 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.