Squarepoint Ops LLC Grows Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Squarepoint Ops LLC increased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 736.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 141,091 shares of the company's stock after acquiring an additional 124,218 shares during the period. Squarepoint Ops LLC's holdings in CCC Intelligent Solutions were worth $1,655,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. CIBC Asset Management Inc grew its position in shares of CCC Intelligent Solutions by 5.9% during the 4th quarter. CIBC Asset Management Inc now owns 19,046 shares of the company's stock valued at $223,000 after acquiring an additional 1,054 shares during the period. Berry Wealth Group LP grew its position in shares of CCC Intelligent Solutions by 5.8% during the 4th quarter. Berry Wealth Group LP now owns 20,224 shares of the company's stock valued at $237,000 after acquiring an additional 1,109 shares during the period. Arizona State Retirement System grew its position in shares of CCC Intelligent Solutions by 1.0% during the 4th quarter. Arizona State Retirement System now owns 117,507 shares of the company's stock valued at $1,378,000 after acquiring an additional 1,150 shares during the period. Treasurer of the State of North Carolina lifted 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 buying an additional 1,250 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in CCC Intelligent Solutions by 6.5% in the 4th quarter. Townsquare Capital LLC now owns 24,338 shares of the company's stock valued at $285,000 after buying an additional 1,475 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CCCS. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Barclays decreased their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Piper Sandler decreased 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 note on Wednesday, May 7th. Finally, Morgan Stanley decreased their price target 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.19.

CCC Intelligent Solutions Price Performance

CCCS traded down $0.05 during trading on Tuesday, reaching $8.81. The company's stock had a trading volume of 11,248,766 shares, compared to its average volume of 5,032,607. 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 fifty day simple moving average of $8.85 and a two-hundred day simple moving average of $10.31. 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 market cap of $5.81 billion, a price-to-earnings ratio of 440.72 and a beta of 0.76.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share 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 business had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. During the same period last year, the company posted $0.09 EPS. The business's revenue was up 10.7% on a year-over-year basis. As a group, analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Insider Activity

In other news, insider Timothy A. Welsh purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average price of $9.03 per share, with a total value of $903,000.00. Following the transaction, the insider now owns 168,472 shares in the company, valued at $1,521,302.16. This represents a 146.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the sale, the director now directly owns 54,047 shares in the company, valued at approximately $485,342.06. The trade was a 38.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,067,379 shares of company stock valued at $545,395,616. 6.03% of the stock is currently owned by company 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.