Millennium Management LLC Has $26.74 Million Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Millennium Management LLC increased its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 13,733.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,279,474 shares of the company's stock after purchasing an additional 2,262,996 shares during the quarter. Millennium Management LLC owned approximately 0.35% of CCC Intelligent Solutions worth $26,738,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CCC Intelligent Solutions by 12.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 648,264 shares of the company's stock valued at $7,605,000 after purchasing an additional 72,307 shares during the last quarter. London Co. of Virginia acquired a new position in CCC Intelligent Solutions during the fourth quarter worth $39,252,000. Jefferies Financial Group Inc. purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at $58,080,000. Gotham Asset Management LLC raised its holdings in shares of CCC Intelligent Solutions by 8.7% in the 4th quarter. Gotham Asset Management LLC now owns 769,930 shares of the company's stock worth $9,031,000 after purchasing an additional 61,432 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in CCC Intelligent Solutions by 2.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 244,951 shares of the company's stock worth $2,873,000 after acquiring an additional 5,951 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CCCS. 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. Barrington Research restated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. Morgan Stanley dropped their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Finally, Barclays lowered their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.19.

CCC Intelligent Solutions Stock Down 3.8%

CCCS stock traded down $0.33 during mid-day trading on Friday, hitting $8.47. 8,634,940 shares of the company were exchanged, compared to its average volume of 5,019,348. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5.58 billion, a PE ratio of 423.71 and a beta of 0.76. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The firm has a fifty day simple moving average of $8.91 and a 200 day simple moving average of $10.44.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company's revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. On average, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Timothy A. Welsh bought 100,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the acquisition, the insider now owns 168,472 shares in the company, valued at approximately $1,521,302.16. This represents a 146.05% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric Wei sold 42,000,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the sale, the director now directly owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. This represents a 94.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last quarter. 6.03% of the stock is owned by company insiders.

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.