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CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Holdings Raised by Palisade Capital Management LP

CCC Intelligent Solutions logo with Computer and Technology background

Palisade Capital Management LP lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 26.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,305,359 shares of the company's stock after purchasing an additional 687,892 shares during the quarter. Palisade Capital Management LP owned about 0.50% of CCC Intelligent Solutions worth $29,847,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CCCS. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter worth about $31,000. Quarry LP purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter worth about $36,000. Smartleaf Asset Management LLC raised its holdings in shares of CCC Intelligent Solutions by 27.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,258 shares of the company's stock worth $86,000 after purchasing an additional 1,546 shares during the period. SRS Capital Advisors Inc. purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter worth about $124,000. Finally, Sagespring Wealth Partners LLC purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter worth about $133,000. Institutional investors and hedge funds own 95.79% of the company's stock.

CCC Intelligent Solutions Stock Up 2.1%

CCCS stock traded up $0.21 during midday trading on Friday, hitting $9.82. 4,448,992 shares of the company's stock were exchanged, compared to its average volume of 5,469,283. 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. The firm has a 50 day moving average price of $9.07 and a 200-day moving average price of $9.79. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 491.00 and a beta of 0.74.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted 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 business had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. On average, analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Analyst Ratings Changes

CCCS has been the topic of a number of research reports. Piper Sandler cut their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Barclays cut their price objective on 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. Barrington Research reiterated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Morgan Stanley dropped their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.06.

View Our Latest Research Report on CCC Intelligent Solutions

Insider Transactions at CCC Intelligent Solutions

In related news, Director Lauren Young sold 30,000,000 shares of the company's stock in a transaction that occurred 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 approximately $14,186,083.52. This represents a 95.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy A. Welsh purchased 100,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $9.03 per share, with a total value of $903,000.00. Following the purchase, the insider owned 168,472 shares of the company's stock, valued at approximately $1,521,302.16. This represents a 146.05% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CCC Intelligent Solutions (NYSE:CCCS)

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