Norris Perne & French LLP MI Grows Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Norris Perne & French LLP MI grew its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 417,415 shares of the company's stock after buying an additional 38,646 shares during the quarter. Norris Perne & French LLP MI owned approximately 0.06% of CCC Intelligent Solutions worth $3,769,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Fifth Third Bancorp lifted its stake in shares of CCC Intelligent Solutions by 35.7% in the 1st quarter. Fifth Third Bancorp now owns 41,678 shares of the company's stock valued at $376,000 after purchasing an additional 10,957 shares during the period. BNP Paribas Financial Markets purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at $1,699,000. Ameriprise Financial Inc. lifted its position in CCC Intelligent Solutions by 42.3% during the fourth quarter. Ameriprise Financial Inc. now owns 986,831 shares of the company's stock valued at $11,576,000 after buying an additional 293,355 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of CCC Intelligent Solutions by 3.0% during the 4th quarter. Wells Fargo & Company MN now owns 903,510 shares of the company's stock valued at $10,598,000 after buying an additional 26,694 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of CCC Intelligent Solutions by 7.8% during the 4th quarter. Natixis Advisors LLC now owns 329,009 shares of the company's stock valued at $3,859,000 after buying an additional 23,688 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Buying and Selling

In related news, CAO Rodney Christo sold 5,846 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total value of $53,490.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Crescenzo Neil E. De bought 100,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the acquisition, the director now owns 213,429 shares in the company, valued at $1,822,683.66. This trade represents a 88.16% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 60,033,324 shares of company stock valued at $545,089,802. 6.03% of the stock is owned by company insiders.

CCC Intelligent Solutions Stock Down 0.8%

CCCS traded down $0.08 during trading on Friday, hitting $9.34. 12,075,336 shares of the company's stock traded hands, compared to its average volume of 5,372,803. The company's 50 day simple moving average is $8.93 and its two-hundred day simple moving average is $10.01. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 467.23 and a beta of 0.72. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 EPS. Analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CCCS shares. Barclays decreased their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Piper Sandler decreased 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 research note on Wednesday, May 7th. Morgan Stanley decreased their price target on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group cut their price target on 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. 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $12.19.

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.