New York State Common Retirement Fund Has $23.44 Million Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

New York State Common Retirement Fund increased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 9.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,596,098 shares of the company's stock after buying an additional 221,227 shares during the period. New York State Common Retirement Fund owned about 0.39% of CCC Intelligent Solutions worth $23,443,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CCCS. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CCC Intelligent Solutions by 34.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,196 shares of the company's stock worth $1,187,000 after buying an additional 25,702 shares during the period. Avantax Advisory Services Inc. grew its position in shares of CCC Intelligent Solutions by 5.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 28,625 shares of the company's stock worth $336,000 after buying an additional 1,527 shares during the period. Swiss National Bank grew its position in shares of CCC Intelligent Solutions by 1.0% in the 4th quarter. Swiss National Bank now owns 797,000 shares of the company's stock worth $9,349,000 after buying an additional 8,100 shares during the period. Natixis Advisors LLC grew its position in shares of CCC Intelligent Solutions by 7.8% in the 4th quarter. Natixis Advisors LLC now owns 329,009 shares of the company's stock worth $3,859,000 after buying an additional 23,688 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of CCC Intelligent Solutions by 122.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 72,627 shares of the company's stock worth $852,000 after buying an additional 39,986 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insiders Place Their Bets

In related news, Director Lauren Young sold 30,000,000 shares of CCC Intelligent Solutions 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 completion of the transaction, the director directly owned 1,562,344 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this link. Also, insider Timothy A. Welsh acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of $9.03 per share, with a total value of $903,000.00. Following the completion of the acquisition, the insider owned 168,472 shares of the company's stock, valued at $1,521,302.16. The trade was a 146.05% increase in their position. The disclosure for this purchase can be found here. 6.03% of the stock is currently owned by corporate insiders.

CCC Intelligent Solutions Trading Down 0.8%

Shares of CCCS traded down $0.08 during midday trading on Friday, reaching $9.76. The company had a trading volume of 4,049,005 shares, compared to its average volume of 5,466,505. The stock has a market cap of $6.43 billion, a PE ratio of 488.24 and a beta of 0.74. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. 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 50 day simple moving average of $9.20 and a 200-day simple moving average of $9.67.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $251.57 million for 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%. The business's quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. Research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective on the stock. in a research note on Monday, June 23rd. The Goldman Sachs Group lowered their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Piper Sandler lowered their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.06.

CCC Intelligent Solutions Company 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.