Clarkston Capital Partners LLC Sells 4,213,769 Shares of CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Clarkston Capital Partners cut its stake in CCC Intelligent Solutions by 30.6% in the first quarter, selling 4.21 million shares and leaving it with 9.58 million shares worth about $57.46 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 95.79% of the company’s stock. Several firms increased their positions, including Principal Financial Group and Van Berkom & Associates.
• Analyst sentiment is mixed but leans cautious: the stock has an average rating of Hold with a $9.25 average target price, while CCC recently beat quarterly EPS estimates and posted 11.8% revenue growth year over year.

Clarkston Capital Partners LLC decreased its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 30.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,576,746 shares of the company's stock after selling 4,213,769 shares during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock accounts for about 4.4% of Clarkston Capital Partners LLC's holdings, making the stock its 5th largest holding. Clarkston Capital Partners LLC owned 1.63% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $57,460,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 37,848,476 shares of the company's stock valued at $227,091,000 after acquiring an additional 1,189,466 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the 1st quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company's stock worth $81,091,000 after purchasing an additional 1,814,248 shares in the last quarter. WCM Investment Management LLC acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth approximately $4,978,000. Fifth Third Bancorp boosted its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 7,790.5% during the 1st quarter. Fifth Third Bancorp now owns 733,891 shares of the company's stock worth $4,403,000 after purchasing an additional 724,590 shares during the last quarter. Finally, CI Investments Inc. grew its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 13.8% in the first quarter. CI Investments Inc. now owns 3,808,853 shares of the company's stock valued at $22,853,000 after purchasing an additional 462,062 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Jefferies Financial Group reissued a "buy" rating and set a $8.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Saturday, May 9th. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, April 24th. Wall Street Zen upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Stifel Nicolaus reissued a "buy" rating and set a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 2nd. Finally, Citigroup lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $10.00 to $6.00 in a report on Friday, April 10th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $9.25.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

CCC opened at $5.74 on Friday. The firm has a market capitalization of $3.37 billion, a PE ratio of 95.68 and a beta of 0.51. CCC Intelligent Solutions Holdings Inc. Common Stock has a one year low of $4.08 and a one year high of $10.50. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. The firm has a 50 day simple moving average of $5.05.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.06. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 6.08% and a net margin of 3.18%.The company had revenue of $281.27 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 earnings per share for the current fiscal year.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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