Oppenheimer Asset Management Inc. Purchases 76,522 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Oppenheimer Asset Management Inc. grew its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 13.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 633,432 shares of the company's stock after acquiring an additional 76,522 shares during the period. Oppenheimer Asset Management Inc. owned 0.10% of CCC Intelligent Solutions worth $5,720,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Norris Perne & French LLP MI raised its position in CCC Intelligent Solutions by 10.2% in the 1st quarter. Norris Perne & French LLP MI now owns 417,415 shares of the company's stock worth $3,769,000 after purchasing an additional 38,646 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in CCC Intelligent Solutions by 1.5% in the 1st quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company's stock worth $112,327,000 after purchasing an additional 178,330 shares during the last quarter. Stanley Laman Group Ltd. bought a new position in CCC Intelligent Solutions in the 1st quarter worth approximately $3,798,000. Fifth Third Bancorp raised its position in CCC Intelligent Solutions by 35.7% in the 1st quarter. Fifth Third Bancorp now owns 41,678 shares of the company's stock worth $376,000 after purchasing an additional 10,957 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in CCC Intelligent Solutions by 25.1% in the 1st quarter. SG Americas Securities LLC now owns 32,504 shares of the company's stock worth $294,000 after purchasing an additional 6,513 shares during the last quarter. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Price Performance

Shares of CCCS stock opened at $9.33 on Wednesday. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 466.73 and a beta of 0.73. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $8.95 and a 200-day moving average of $9.96.

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 (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $251.57 million during the quarter, compared to analyst estimates of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, equities research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eric Wei sold 30,000,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the transaction, the director now directly owns 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. This represents a 95.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the business's stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the transaction, the director now directly owns 213,429 shares in the company, valued at approximately $1,822,683.66. This represents a 88.16% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 60,027,478 shares of company stock valued at $545,036,311. Company insiders own 6.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective for the company. in a research report on Monday. Barrington Research restated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. Piper Sandler dropped their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered their target price on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Barclays lowered their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.06.

About CCC Intelligent Solutions

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.

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