Cerity Partners LLC Trims Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Cerity Partners LLC lowered its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 23.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,843 shares of the company's stock after selling 54,038 shares during the period. Cerity Partners LLC's holdings in CCC Intelligent Solutions were worth $1,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Avantax Advisory Services Inc. raised its holdings in shares of CCC Intelligent Solutions by 5.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 28,625 shares of the company's stock worth $336,000 after acquiring an additional 1,527 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of CCC Intelligent Solutions by 122.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 72,627 shares of the company's stock valued at $852,000 after buying an additional 39,986 shares during the period. Corient Private Wealth LLC grew its stake in CCC Intelligent Solutions by 130.3% in the 4th quarter. Corient Private Wealth LLC now owns 142,208 shares of the company's stock worth $1,668,000 after acquiring an additional 80,459 shares during the period. Xponance Inc. grew its stake in CCC Intelligent Solutions by 11.5% in the 4th quarter. Xponance Inc. now owns 23,060 shares of the company's stock worth $270,000 after acquiring an additional 2,378 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in CCC Intelligent Solutions by 105.6% in the 4th quarter. Teacher Retirement System of Texas now owns 162,619 shares of the company's stock valued at $1,908,000 after acquiring an additional 83,533 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Wall Street Analysts Forecast Growth

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

CCC Intelligent Solutions Trading Down 1.2%

CCCS traded down $0.12 on Thursday, reaching $9.88. 1,758,483 shares of the company's stock were exchanged, compared to its average volume of 7,459,701. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 494.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The company's 50 day moving average is $9.24 and its 200-day moving average is $9.63.

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, meeting analysts' consensus estimates of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $251.57 million for the quarter, compared to the consensus estimate of $249.87 million. During the same quarter last year, the firm posted $0.09 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Lauren Young sold 30,000,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the sale, the director owned 1,562,344 shares of the company's stock, valued at $14,186,083.52. This trade represents a 95.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $8.54 per share, for a total transaction of $854,000.00. Following the purchase, the director directly owned 213,429 shares of the company's stock, valued at approximately $1,822,683.66. This trade represents a 88.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.03% of the stock is owned by corporate insiders.

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.