New York State Common Retirement Fund Increases Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

New York State Common Retirement Fund lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,596,098 shares of the company's stock after buying an additional 221,227 shares during the quarter. New York State Common Retirement Fund owned 0.39% of CCC Intelligent Solutions worth $23,443,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC acquired a new position in CCC Intelligent Solutions during the 4th quarter worth $31,000. Quarry LP bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth about $36,000. Valeo Financial Advisors LLC acquired a new position in shares of CCC Intelligent Solutions during the 1st quarter worth about $100,000. Sagespring Wealth Partners LLC acquired a new position in CCC Intelligent Solutions in the 4th quarter valued at approximately $133,000. Finally, Two Sigma Securities LLC acquired a new position in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $139,000. Institutional investors and hedge funds own 95.79% of the company's stock.

CCC Intelligent Solutions Stock Up 2.0%

Shares of NYSE:CCCS traded up $0.20 during trading hours on Thursday, hitting $9.74. The company's stock had a trading volume of 2,125,936 shares, compared to its average volume of 5,457,266. The firm's fifty day moving average price is $9.16 and its 200 day moving average price is $9.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 486.99 and a beta of 0.74.

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

Insider Activity

In related news, insider Timothy A. Welsh purchased 100,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $9.03 per share, with a total value of $903,000.00. Following the acquisition, the insider owned 168,472 shares in the company, valued at $1,521,302.16. The trade was a 146.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Wei sold 30,000,000 shares of the company's 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 sale, the director directly owned 1,562,344 shares of the company's stock, 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.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective on the stock. in a research report on Monday, June 23rd. The Goldman Sachs Group dropped their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Piper Sandler lowered their price target on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Morgan Stanley cut their price target on shares of 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. 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 report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.