Illinois Municipal Retirement Fund Acquires 111,615 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

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

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased 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 buying an additional 21,535 shares during the last quarter. Fifth Third Bancorp increased its position in shares of CCC Intelligent Solutions by 35.7% in the first quarter. Fifth Third Bancorp now owns 41,678 shares of the company's stock valued at $376,000 after acquiring an additional 10,957 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in CCC Intelligent Solutions during the fourth quarter worth about $1,699,000. Ameriprise Financial Inc. lifted its stake in CCC Intelligent Solutions by 42.3% in the fourth quarter. Ameriprise Financial Inc. now owns 986,831 shares of the company's stock valued at $11,576,000 after acquiring an additional 293,355 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of CCC Intelligent Solutions by 25.1% during the 1st quarter. SG Americas Securities LLC now owns 32,504 shares of the company's stock worth $294,000 after buying an additional 6,513 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays lowered their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Morgan Stanley decreased 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 reiterated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective for the company. in a research note on Monday, June 23rd. Finally, The Goldman Sachs Group cut their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, CCC Intelligent Solutions currently has an average rating of "Moderate Buy" and an average price target of $12.06.

Insiders Place Their Bets

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

CCC Intelligent Solutions Trading Up 2.1%

CCCS traded up $0.21 during midday trading on Thursday, hitting $9.82. 4,448,992 shares of the company were exchanged, compared to its average volume of 5,453,576. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.14 and a 1-year high of $12.88. 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 firm has a market capitalization of $6.47 billion, a P/E ratio of 491.00 and a beta of 0.73. The firm's 50 day moving average price is $9.04 and its 200-day moving average price is $9.85.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $251.57 million for the quarter, compared to the consensus estimate of $249.87 million. During the same quarter in the previous year, the company earned $0.09 EPS. The company's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

CCC Intelligent Solutions Company 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.