Engineers Gate Manager LP Acquires Shares of 468,134 CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Engineers Gate Manager LP acquired 468,134 CCC shares during the second quarter, valued at approximately $2.4 million and representing about 0.08% of the company. Institutional investors collectively own 95.79% of CCC.
• CCC reported quarterly earnings of $0.10 per share, beating the $0.05 consensus estimate, while revenue rose 9.8% year over year to $285.93 million.
• CCC shares opened at $6.76, below the analyst consensus price target of $9.12. Analysts maintain a “Moderate Buy” consensus, with three Buy ratings and two Hold ratings.

Engineers Gate Manager LP acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 468,134 shares of the company's stock, valued at approximately $2,416,000. Engineers Gate Manager LP owned approximately 0.08% of CCC Intelligent Solutions Holdings Inc. Common Stock at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CCC. Wasatch Advisors LP grew its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% in the first quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company's stock worth $169,391,000 after purchasing an additional 5,440,768 shares in the last quarter. Wellington Management Group LLP acquired a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the second quarter valued at approximately $17,869,000. London Co. of Virginia raised its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 52.5% during the first quarter. London Co. of Virginia now owns 8,741,590 shares of the company's stock valued at $52,450,000 after buying an additional 3,007,687 shares in the last quarter. California State Teachers Retirement System raised its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 399.3% during the second quarter. California State Teachers Retirement System now owns 3,266,311 shares of the company's stock valued at $16,854,000 after buying an additional 2,612,074 shares in the last quarter. Finally, Alfreton Capital LLP lifted its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% during the 1st quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company's stock worth $64,668,000 after buying an additional 1,978,074 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Down 1.9%

Shares of CCC stock opened at $6.76 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The company has a 50 day moving average of $6.65. CCC Intelligent Solutions Holdings Inc. Common Stock has a 52 week low of $4.08 and a 52 week high of $9.90. The firm has a market capitalization of $3.98 billion, a P/E ratio of 84.51 and a beta of 0.49.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $285.93 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 7.18% and a net margin of 3.81%.The firm's revenue was up 9.8% compared to the same quarter last year. Analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, September 2nd. Jefferies Financial Group set a $7.00 price objective on CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 30th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $9.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 2nd. Citigroup boosted their target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock presently has an average rating of "Moderate Buy" and an average price target of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Profile

CCC Intelligent Solutions Holdings Inc provides cloud-based software and technology services for the property and casualty insurance economy. Its platform connects insurers, collision repair facilities, automakers, parts suppliers, lenders, and other participants involved in vehicle claims and repairs.

The company's solutions support claims management, estimating, workflow automation, digital payments, total-loss processing, vehicle valuation, and collision-repair operations. CCC also uses artificial intelligence, computer vision, predictive analytics, and data capabilities to help customers assess vehicle damage, streamline claims, improve repair processes, and enhance customer communication.

CCC traces its history to 1980 and primarily serves the North American insurance and automotive markets.

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