Bessemer Group Inc. Boosts Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Bessemer Group Inc. increased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,902,693 shares of the company's stock after buying an additional 143,907 shares during the period. Bessemer Group Inc. owned about 1.50% of CCC Intelligent Solutions worth $89,421,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its stake in CCC Intelligent Solutions by 13.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 633,432 shares of the company's stock valued at $5,720,000 after purchasing an additional 76,522 shares during the last quarter. Norris Perne & French LLP MI grew its stake in CCC Intelligent Solutions by 10.2% in the first quarter. Norris Perne & French LLP MI now owns 417,415 shares of the company's stock valued at $3,769,000 after purchasing an additional 38,646 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in CCC Intelligent Solutions by 1.5% in 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 during the last quarter. Stanley Laman Group Ltd. purchased a new position in CCC Intelligent Solutions in the first quarter valued at about $3,798,000. Finally, Fifth Third Bancorp grew its stake in CCC Intelligent Solutions by 35.7% in the first quarter. Fifth Third Bancorp now owns 41,678 shares of the company's stock valued at $376,000 after purchasing an additional 10,957 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Lauren Young sold 30,000,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director now directly owns 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $8.54 per share, with a total value of $854,000.00. Following the completion of the acquisition, the director now directly owns 213,429 shares of the company's stock, valued at $1,822,683.66. This trade represents a 88.16% increase in their position. The disclosure for this purchase can be found here. Insiders sold 60,027,478 shares of company stock valued at $545,036,311 over the last quarter. 6.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several analyst reports. Barclays cut their target price on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group cut their target price on 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. Morgan Stanley cut their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler lowered their price target on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, Barrington Research reissued an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.06.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock traded up $0.10 on Friday, reaching $9.41. 13,262,829 shares of the stock were exchanged, compared to its average volume of 5,426,177. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 470.74 and a beta of 0.73. The business has a 50 day moving average price of $8.99 and a two-hundred day moving average price of $9.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company's revenue was up 10.7% 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.

About CCC Intelligent Solutions

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.