Man Group plc Sells 713,388 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Man Group plc lowered its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 97.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 15,547 shares of the company's stock after selling 713,388 shares during the quarter. Man Group plc's holdings in CCC Intelligent Solutions were worth $182,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CCCS. BNP Paribas Financial Markets purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $1,699,000. Ameriprise Financial Inc. increased its stake 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 purchasing an additional 293,355 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of CCC Intelligent Solutions by 29.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company's stock valued at $143,822,000 after acquiring an additional 2,752,950 shares in the last quarter. Wells Fargo & Company MN raised its holdings in CCC Intelligent Solutions by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 903,510 shares of the company's stock valued at $10,598,000 after acquiring an additional 26,694 shares in the last quarter. Finally, KBC Group NV increased its holdings in CCC Intelligent Solutions by 55.9% in the fourth quarter. KBC Group NV now owns 16,075 shares of the company's stock valued at $189,000 after buying an additional 5,761 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CCCS shares. Piper Sandler lowered their target price 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. Barclays decreased their price target on 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. JPMorgan Chase & Co. cut CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price objective 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. Finally, Barrington Research reiterated an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Three research 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.19.

CCC Intelligent Solutions Stock Up 0.6%

Shares of CCC Intelligent Solutions stock traded up $0.05 during midday trading on Friday, reaching $8.81. 8,042,497 shares of the company's stock traded hands, compared to its average volume of 4,972,615. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 440.72 and a beta of 0.76. The company's 50 day simple moving average is $8.86 and its 200 day simple moving average is $10.34. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $251.57 million for the quarter, compared to the consensus estimate of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. Equities analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 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, for a total transaction of $854,000.00. Following the transaction, the director now owns 213,429 shares of the company's stock, valued at $1,822,683.66. This trade represents a 88.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Wei sold 42,000,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the completion of the transaction, the director now directly owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. This trade represents a 94.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,087,456 shares of company stock valued at $979,040,401. 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.