Pacer Advisors Inc. Purchases Shares of 1,806,044 CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Pacer Advisors acquired 1,806,044 shares of CCC Intelligent Solutions during the first quarter, valued at approximately $10.8 million and representing about 0.31% of the company. Institutional investors collectively own 95.79% of CCC.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $9.12.
• CCC reported quarterly EPS of $0.10, beating estimates of $0.05, while revenue reached $285.93 million, up 9.8% year over year. Shares opened at $6.33, compared with a 52-week range of $4.08 to $10.14.

Pacer Advisors Inc. acquired a new position in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,806,044 shares of the company's stock, valued at approximately $10,836,000. Pacer Advisors Inc. owned about 0.31% of CCC Intelligent Solutions Holdings Inc. Common Stock at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 3.2% in the first quarter. Principal Financial Group Inc. now owns 37,848,476 shares of the company's stock valued at $227,091,000 after purchasing an additional 1,189,466 shares in the last quarter. Van Berkom & Associates Inc. increased its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the first quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company's stock worth $81,091,000 after purchasing an additional 1,814,248 shares during the last quarter. WCM Investment Management LLC bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter worth $4,978,000. Hsbc Holdings PLC raised its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 833.6% during the first quarter. Hsbc Holdings PLC now owns 2,030,121 shares of the company's stock valued at $12,181,000 after purchasing an additional 1,812,674 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 7,790.5% during the first quarter. Fifth Third Bancorp now owns 733,891 shares of the company's stock valued at $4,403,000 after purchasing an additional 724,590 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CCC. Weiss Ratings reiterated a "sell (d+)" rating on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday. Wall Street Zen downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup upped their target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a "neutral" rating in a research report on Monday. Stifel Nicolaus reaffirmed a "buy" rating and issued a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 2nd. Finally, Jefferies Financial Group set a $7.00 price target on CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock currently has an average rating of "Hold" and an average price target of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

NASDAQ CCC opened at $6.33 on Wednesday. The firm's 50 day moving average is $5.30. CCC Intelligent Solutions Holdings Inc. Common Stock has a fifty-two week low of $4.08 and a fifty-two week high of $10.14. The company has a market cap of $3.73 billion, a P/E ratio of 79.13 and a beta of 0.50. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. The company had revenue of $285.93 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 7.18% and a net margin of 3.81%.The business's revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts predict that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 EPS for the current year.

CCC Intelligent Solutions Holdings Inc. Common Stock Profile

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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