Brown Advisory Inc. Buys 4,313,296 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Brown Advisory Inc. increased its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 30.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,346,792 shares of the company's stock after acquiring an additional 4,313,296 shares during the period. Brown Advisory Inc. owned about 2.78% of CCC Intelligent Solutions worth $165,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in CCC Intelligent Solutions by 644.2% in the 1st quarter. GAMMA Investing LLC now owns 24,878 shares of the company's stock valued at $225,000 after purchasing an additional 21,535 shares during the period. KBC Group NV boosted its holdings in shares of CCC Intelligent Solutions by 26.0% in the 1st quarter. KBC Group NV now owns 20,261 shares of the company's stock worth $183,000 after buying an additional 4,186 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of CCC Intelligent Solutions by 35.7% in the 1st quarter. Fifth Third Bancorp now owns 41,678 shares of the company's stock worth $376,000 after buying an additional 10,957 shares during the last quarter. BNP Paribas Financial Markets bought a new position in CCC Intelligent Solutions during the fourth quarter valued at about $1,699,000. Finally, Ameriprise Financial Inc. increased its holdings in CCC Intelligent Solutions by 42.3% during the fourth quarter. Ameriprise Financial Inc. now owns 986,831 shares of the company's stock worth $11,576,000 after buying an additional 293,355 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CCC Intelligent Solutions news, insider Timothy A. Welsh acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the completion of the transaction, the insider owned 168,472 shares of the company's stock, valued at approximately $1,521,302.16. This represents a 146.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Crescenzo Neil E. De bought 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $8.54 per share, with a total value of $854,000.00. Following the completion of the transaction, the director owned 213,429 shares of the company's stock, valued at $1,822,683.66. This represents a 88.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 6.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CCCS shares. Barrington Research reiterated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Piper Sandler dropped their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 target price on the stock. in a research note on Monday, June 23rd. Finally, Barclays cut their price target on 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. One equities research 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's stock. According to data from MarketBeat, CCC Intelligent Solutions has a consensus rating of "Moderate Buy" and an average target price of $12.06.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock traded down $0.21 during trading hours on Friday, reaching $9.54. The company had a trading volume of 3,847,758 shares, compared to its average volume of 5,471,239. The firm has a market cap of $6.29 billion, a PE ratio of 477.24 and a beta of 0.74. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88. 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 business has a fifty day simple moving average of $9.12 and a 200 day simple moving average of $9.74.

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

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.