Envestnet Asset Management Inc. Purchases 68,543 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Envestnet Asset Management Inc. raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,781,121 shares of the company's stock after acquiring an additional 68,543 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.42% of CCC Intelligent Solutions worth $25,114,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. TD Private Client Wealth LLC acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at about $31,000. Quarry LP acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at about $36,000. Curated Wealth Partners LLC boosted its position in shares of CCC Intelligent Solutions by 42.1% in the 1st quarter. Curated Wealth Partners LLC now owns 14,268 shares of the company's stock valued at $129,000 after purchasing an additional 4,224 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at about $133,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at about $139,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Eric Wei sold 30,000,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the completion of the transaction, the director directly owned 1,562,344 shares in the company, valued at approximately $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Crescenzo Neil E. De bought 100,000 shares of the business's stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of $8.54 per share, with a total value of $854,000.00. Following the completion of the transaction, the director directly owned 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 disclosure for this purchase can be found here. Company insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Stock Down 0.8%

Shares of NYSE CCCS traded down $0.08 during midday trading on Friday, reaching $9.76. 4,049,005 shares of the company's stock were exchanged, compared to its average volume of 5,466,505. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.14 and a 52-week high of $12.88. The stock has a market capitalization of $6.43 billion, a PE ratio of 488.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The business's fifty day moving average price is $9.20 and its two-hundred day moving average price is $9.67.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $251.57 million during the quarter, compared to analyst estimates of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. CCC Intelligent Solutions's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. Analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

CCCS has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded 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. Barclays dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Piper Sandler dropped their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.06.

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.