Fifth Third Bancorp Increases Stake in CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Fifth Third Bancorp dramatically increased its stake in CCC Intelligent Solutions, buying 724,590 additional shares in the first quarter and lifting its holdings to 733,891 shares worth about $4.4 million.
• CCC stock was down 1.9% in Friday trading, opening at $6.05, with a market cap of $3.55 billion and a 52-week range of $4.08 to $10.50.
• The company’s latest earnings beat expectations, posting $0.11 EPS versus the $0.05 estimate, while revenue rose 11.8% year over year to $281.27 million.

Fifth Third Bancorp boosted its position in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 7,790.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 733,891 shares of the company's stock after acquiring an additional 724,590 shares during the period. Fifth Third Bancorp owned 0.13% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $4,403,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CCC. Root Financial Partners LLC boosted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% during the first quarter. Root Financial Partners LLC now owns 4,858 shares of the company's stock worth $29,000 after purchasing an additional 4,644 shares during the period. Essex Financial Services Inc. bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter valued at approximately $61,000. MQS Management LLC purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at approximately $90,000. Evolve Private Wealth LLC purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at approximately $116,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 134.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 28,736 shares of the company's stock worth $172,000 after buying an additional 16,466 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

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

CCC stock opened at $6.05 on Friday. The company has a 50 day moving average price of $4.93. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 100.85 and a beta of 0.51. CCC Intelligent Solutions Holdings Inc. Common Stock has a 12 month low of $4.08 and a 12 month high of $10.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.25 and a quick ratio of 1.25.

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 net margin of 3.18% and a return on equity of 6.08%. The business had revenue of $281.27 million for the quarter. The company's revenue was up 11.8% on a year-over-year basis. Sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

CCC has been the subject of a number of recent research reports. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, April 24th. Wall Street Zen raised CCC Intelligent Solutions Holdings Inc. Common Stock from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 2nd. Citigroup cut CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and reduced their price target for the company from $10.00 to $6.00 in a research report on Friday, April 10th. Finally, Weiss Ratings upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $9.25.

About CCC Intelligent Solutions Holdings Inc. Common Stock

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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