Bank of America Corp DE Purchases 324,678 Shares of CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Bank of America increased its CCC Intelligent Solutions stake by 2.4%, acquiring 324,678 additional shares and bringing its holdings to 14.0 million shares valued at approximately $84 million.
• Institutional ownership remains high at 95.79%, with several major investors—including Wasatch Advisors and Van Berkom & Associates—also adding shares during the first quarter.
• CCC reported quarterly EPS of $0.10, beating the $0.05 consensus estimate, while revenue rose 9.8% year over year to $285.93 million. Analyst sentiment is mixed, with an overall “Hold” rating and a consensus price target of $9.12.

Bank of America Corp DE increased its position in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,004,344 shares of the company's stock after acquiring an additional 324,678 shares during the quarter. Bank of America Corp DE owned about 2.39% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $84,026,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 3.2% during the first quarter. Principal Financial Group Inc. now owns 37,848,476 shares of the company's stock valued at $227,091,000 after purchasing an additional 1,189,466 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% in the first quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company's stock worth $169,391,000 after purchasing an additional 5,440,768 shares in the last quarter. Van Berkom & Associates Inc. increased its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the first quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company's stock worth $81,091,000 after purchasing an additional 1,814,248 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 11,043,781 shares of the company's stock valued at $66,254,000 after purchasing an additional 695,892 shares during the period. Finally, Alfreton Capital LLP raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% in the first quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company's stock valued at $64,668,000 after purchasing an additional 1,978,074 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Up 6.5%

Shares of NASDAQ:CCC opened at $6.92 on Friday. The company's 50 day moving average price is $5.42. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $4.08 billion, a PE ratio of 86.51 and a beta of 0.50. CCC Intelligent Solutions Holdings Inc. Common Stock has a 12 month low of $4.08 and a 12 month high of $10.14.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.81% and a return on equity of 7.18%. The business had revenue of $285.93 million for the quarter. The company's revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citigroup upped their price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, April 24th. Stifel Nicolaus reissued a "buy" rating and set a $9.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 2nd. Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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