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

Envestnet Asset Management Inc. boosted its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,781,121 shares of the company's stock after purchasing 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 SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCCS. Teacher Retirement System of Texas boosted its position in shares of CCC Intelligent Solutions by 13.6% during the 1st quarter. Teacher Retirement System of Texas now owns 184,804 shares of the company's stock valued at $1,669,000 after acquiring an additional 22,185 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of CCC Intelligent Solutions by 644.2% during the 1st quarter. GAMMA Investing LLC now owns 24,878 shares of the company's stock valued at $225,000 after acquiring an additional 21,535 shares during the last quarter. Amalgamated Bank boosted its position in shares of CCC Intelligent Solutions by 4.9% during the 1st quarter. Amalgamated Bank now owns 24,885 shares of the company's stock valued at $225,000 after acquiring an additional 1,163 shares during the last quarter. KBC Group NV boosted its position in shares of CCC Intelligent Solutions by 26.0% during the 1st quarter. KBC Group NV now owns 20,261 shares of the company's stock valued at $183,000 after acquiring an additional 4,186 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of CCC Intelligent Solutions by 35.7% during the 1st quarter. Fifth Third Bancorp now owns 41,678 shares of the company's stock valued at $376,000 after acquiring an additional 10,957 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Lauren Young sold 30,000,000 shares of the stock in a transaction 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 transaction, the director owned 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. This represents a 95.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Wei sold 30,000,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the transaction, the director directly owned 1,562,344 shares in the company, valued at $14,186,083.52. The trade was a 95.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Trading Up 1.1%

CCCS stock traded up $0.10 during midday trading on Wednesday, reaching $9.54. The company's stock had a trading volume of 4,346,621 shares, compared to its average volume of 5,472,822. 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 stock has a fifty day simple moving average of $9.15 and a two-hundred day simple moving average of $9.70. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 477.24 and a beta of 0.74.

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 return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. During the same quarter last year, the firm posted $0.09 earnings per share. The business's revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several recent research reports. Piper Sandler decreased their price target on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Barrington Research restated an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a 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 report on Monday, April 14th. Morgan Stanley decreased their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price target on the stock. in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.06.

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.