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

Palisade Capital Management LP raised its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CCCS. Principal Financial Group Inc. raised its stake in shares of CCC Intelligent Solutions by 1.4% during the first quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock worth $246,551,000 after purchasing an additional 363,944 shares during the last quarter. Teacher Retirement System of Texas increased its stake in CCC Intelligent Solutions by 13.6% in the 1st quarter. Teacher Retirement System of Texas now owns 184,804 shares of the company's stock valued at $1,669,000 after buying an additional 22,185 shares during the period. Amalgamated Bank raised its position in CCC Intelligent Solutions by 4.9% during the 1st quarter. Amalgamated Bank now owns 24,885 shares of the company's stock worth $225,000 after buying an additional 1,163 shares during the last quarter. KBC Group NV lifted its stake in shares of CCC Intelligent Solutions by 26.0% in the 1st quarter. KBC Group NV now owns 20,261 shares of the company's stock worth $183,000 after acquiring an additional 4,186 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of CCC Intelligent Solutions by 75.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 259,714 shares of the company's stock worth $2,345,000 after acquiring an additional 111,615 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eric Wei sold 30,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Crescenzo Neil E. De bought 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the purchase, the director owned 213,429 shares in the company, valued at $1,822,683.66. This represents a 88.16% increase in their position. The disclosure for this purchase can be found here. Insiders own 6.03% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 target price on the stock. in a research report on Monday, June 23rd. Barrington Research reissued an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Morgan Stanley decreased their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.06.

CCC Intelligent Solutions Price Performance

Shares of CCCS traded up $0.21 on Friday, reaching $9.82. The stock had a trading volume of 4,448,992 shares, compared to its average volume of 5,467,937. The firm has a market capitalization of $6.47 billion, a PE ratio of 491.00 and a beta of 0.74. 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 50-day moving average of $9.05 and a 200 day moving average of $9.84. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. The company had revenue of $251.57 million for the quarter, compared to the consensus estimate of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. CCC Intelligent Solutions's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. Sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

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.