CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 75.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,714 shares of the company's stock after purchasing an additional 111,615 shares during the period. Illinois Municipal Retirement Fund's holdings in CCC Intelligent Solutions were worth $2,345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System increased its position in shares of CCC Intelligent Solutions by 1.0% in the fourth quarter. Arizona State Retirement System now owns 117,507 shares of the company's stock valued at $1,378,000 after buying an additional 1,150 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in CCC Intelligent Solutions by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 198,807 shares of the company's stock valued at $2,332,000 after acquiring an additional 1,250 shares during the last quarter. Townsquare Capital LLC increased its holdings in CCC Intelligent Solutions by 6.5% during the 4th quarter. Townsquare Capital LLC now owns 24,338 shares of the company's stock valued at $285,000 after acquiring an additional 1,475 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in CCC Intelligent Solutions by 5.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 28,625 shares of the company's stock valued at $336,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in CCC Intelligent Solutions by 0.8% during the fourth quarter. Alliancebernstein L.P. now owns 188,631 shares of the company's stock worth $2,213,000 after acquiring an additional 1,539 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CCCS. Piper Sandler lowered their price target on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. 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 report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.06.

CCC Intelligent Solutions Trading Up 1.1%

Shares of CCCS opened at $9.41 on Monday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $12.88. The company has a market capitalization of $6.20 billion, a PE ratio of 470.74 and a beta of 0.73. The stock has a fifty day moving average of $8.99 and a two-hundred day moving average of $9.88. 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 (NYSE:CCCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting 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 firm had revenue of $251.57 million during the quarter, compared to analyst estimates of $249.87 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The business's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Insider Transactions at CCC Intelligent Solutions

In other news, 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 purchased at an average price of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the acquisition, the director now owns 213,429 shares of the company's stock, valued at $1,822,683.66. The trade was a 88.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the sale, the director now directly owns 26,569 shares of the company's stock, valued at approximately $228,493.40. This trade represents a 50.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,027,478 shares of company stock worth $545,036,311 in the last three months. Company insiders own 6.03% of the company's stock.

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.

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