Bessemer Group Inc. Sells 8,302,803 Shares of CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Bessemer Group Inc. sharply reduced its CCC stake, cutting holdings by 99.1% in Q1 after selling 8,302,803 shares. It ended the period with 76,214 shares valued at about $457,000.
• CCC Intelligent Solutions posted solid quarterly results, reporting $0.11 EPS versus the $0.05 consensus estimate and revenue of $281.27 million, up 11.8% year over year.
• Analysts remain mixed on the stock, with an overall MarketBeat rating of “Hold” and an average price target of $9.25. Recent views ranged from Citigroup’s downgrade to “neutral” to buy ratings from Jefferies and Stifel.

Bessemer Group Inc. cut its stake in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 99.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,214 shares of the company's stock after selling 8,302,803 shares during the period. Bessemer Group Inc.'s holdings in CCC Intelligent Solutions Holdings Inc. Common Stock were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CCC. Root Financial Partners LLC grew its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% in the first quarter. Root Financial Partners LLC now owns 4,858 shares of the company's stock valued at $29,000 after acquiring an additional 4,644 shares during the period. Essex Financial Services Inc. bought a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at $61,000. Citizens Financial Group Inc. RI bought a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at $65,000. MQS Management LLC acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at $90,000. Finally, Evolve Private Wealth LLC acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at $116,000. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

Shares of CCC opened at $5.82 on Friday. The company has a fifty day moving average price of $5.08. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 97.02 and a beta of 0.51. CCC Intelligent Solutions Holdings Inc. Common Stock has a 52 week low of $4.08 and a 52 week high of $10.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.25.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 6.08% and a net margin of 3.18%.The company had revenue of $281.27 million during the quarter. The business's quarterly revenue was up 11.8% compared to the same quarter last year. As a group, research analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $8.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Saturday, May 9th. Stifel Nicolaus restated a "buy" rating and issued a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 2nd. Citigroup cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $10.00 to $6.00 in a research note on Friday, April 10th. Weiss Ratings raised shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Finally, Barrington Research reiterated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $9.25.

About CCC Intelligent Solutions Holdings Inc. Common Stock

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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