Pacer Advisors Inc. Takes Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Pacer Advisors Inc. has acquired a new stake in CCC Intelligent Solutions Holdings Inc., purchasing 746,615 shares valued at approximately $6.74 million in Q1.
• CCC Intelligent Solutions reported a net margin of 5.02% and a 10.7% increase in revenue compared to the same quarter last year.
• Analysts have mixed ratings on CCC Intelligent Solutions, with price targets ranging from $9.00 to $14.00, indicating a consensus rating of "Moderate Buy."

Pacer Advisors Inc. bought a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 746,615 shares of the company's stock, valued at approximately $6,742,000. Pacer Advisors Inc. owned 0.11% of CCC Intelligent Solutions at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. raised its stake in shares of CCC Intelligent Solutions by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock worth $807,807,000 after purchasing an additional 4,060,284 shares during the last quarter. Vanguard Group Inc. grew its position in CCC Intelligent Solutions by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock worth $602,772,000 after acquiring an additional 847,334 shares in the last quarter. Principal Financial Group Inc. lifted its position in CCC Intelligent Solutions by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock worth $246,551,000 after buying an additional 363,944 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of CCC Intelligent Solutions by 30.7% during the first quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock valued at $165,672,000 after acquiring an additional 4,313,296 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its position in shares of 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 buying an additional 178,330 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Lauren Young sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred 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 transaction, the director directly owned 1,562,344 shares of the company's stock, valued at $14,186,083.52. This trade represents a 95.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timothy A. Welsh bought 100,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the completion of the transaction, the insider owned 168,472 shares in the company, valued at $1,521,302.16. This trade represents a 146.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.03% of the stock is currently owned by corporate insiders.

CCC Intelligent Solutions Stock Up 0.1%

CCCS stock traded up $0.01 during mid-day trading on Thursday, hitting $9.79. The stock had a trading volume of 1,631,517 shares, compared to its average volume of 7,379,723. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 489.69 and a beta of 0.74. The company has a fifty day moving average of $9.33 and a 200 day moving average of $9.58. 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 1-year low of $8.14 and a 1-year high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its quarterly earnings results 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 return on equity of 5.35% and a net margin of 5.02%. The firm had revenue of $251.57 million during the quarter, compared to analysts' expectations of $249.87 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The company's revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on CCCS shares. Barclays dropped their price target on 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. The Goldman Sachs Group decreased 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 report on Wednesday, May 7th. Piper Sandler cut their target price 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 reduced their price objective 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, JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective on the stock. in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.