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

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.

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

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.