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

Bessemer Group Inc. increased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,902,693 shares of the company's stock after acquiring 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.

Several other hedge funds also recently bought and sold shares of CCCS. T. Rowe Price Investment Management Inc. raised its stake 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 in the last quarter. Vanguard Group Inc. raised its position in CCC Intelligent Solutions by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock valued at $602,772,000 after purchasing an additional 847,334 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of CCC Intelligent Solutions by 2.2% in the 4th quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company's stock worth $164,613,000 after buying an additional 299,943 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of CCC Intelligent Solutions by 1.5% during the 1st quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company's stock worth $112,327,000 after buying an additional 178,330 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of CCC Intelligent Solutions by 4,172.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company's stock worth $115,394,000 after buying an additional 9,607,085 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CCCS shares. Barclays lowered their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price target for the company. in a report on Monday. Morgan Stanley dropped their price objective on shares of 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. Barrington Research reissued an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Finally, Piper Sandler lowered their target price 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, CCC Intelligent Solutions has an average rating of "Moderate Buy" and an average target price of $12.06.

CCC Intelligent Solutions Stock Up 1.1%

Shares of NYSE CCCS traded up $0.10 during trading hours on Friday, hitting $9.41. 13,262,829 shares of the stock were exchanged, compared to its average volume of 5,494,699. 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 moving average price of $8.99 and a 200-day moving average price of $9.91. 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 company has a market cap of $6.20 billion, a PE ratio of 470.74 and a beta of 0.73.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $251.57 million during the quarter, compared to analyst estimates of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions's revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS. On average, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the completion of the sale, the director now directly owns 1,562,344 shares in the company, valued at approximately $14,186,083.52. The trade was a 95.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the sale, the director now owns 26,569 shares in the company, valued at $228,493.40. The trade was a 50.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,027,478 shares of company stock worth $545,036,311. Company insiders own 6.03% of the company's stock.

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.