Pennant Investors LP Takes Position in CCC Intelligent Solutions Holdings Inc. $CCCS

Key Points

• Pennant Investors LP has acquired 1,060,000 shares of CCC Intelligent Solutions Holdings Inc., representing an investment of approximately $9.57 million and making up about 2.5% of their portfolio.
• Multiple hedge funds have recently increased their stakes in CCC Intelligent Solutions, contributing to institutional investors holding nearly 95.79% of the company's stock.
• CCC Intelligent Solutions has received mixed ratings from analysts, with the stock currently holding an average rating of "Hold" and an average target price of $11.75.

Pennant Investors LP purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,060,000 shares of the company's stock, valued at approximately $9,572,000. CCC Intelligent Solutions comprises about 2.5% of Pennant Investors LP's investment portfolio, making the stock its 13th biggest position. Pennant Investors LP owned approximately 0.16% of CCC Intelligent Solutions at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its holdings in CCC Intelligent Solutions by 6.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 72,967,671 shares of the company's stock valued at $658,899,000 after purchasing an additional 4,100,954 shares during the last quarter. Vanguard Group Inc. lifted its holdings in CCC Intelligent Solutions by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 56,491,007 shares of the company's stock valued at $510,114,000 after purchasing an additional 5,103,835 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in CCC Intelligent Solutions by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 27,303,495 shares of the company's stock valued at $246,551,000 after purchasing an additional 363,944 shares during the last quarter. Brown Advisory Inc. increased its position in CCC Intelligent Solutions by 30.7% during the 1st quarter. Brown Advisory Inc. now owns 18,346,792 shares of the company's stock worth $165,672,000 after buying an additional 4,313,296 shares during the period. Finally, Akre Capital Management LLC boosted its position in shares of CCC Intelligent Solutions by 23.5% in the first quarter. Akre Capital Management LLC now owns 13,190,384 shares of the company's stock valued at $119,109,000 after acquiring an additional 2,508,986 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Lauren Young sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $9.87, for a total value of $296,100,000.00. Following the transaction, the director owned 866,345 shares in the company, valued at $8,550,825.15. The trade was a 97.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric Wei sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $9.87, for a total value of $296,100,000.00. Following the completion of the transaction, the director owned 866,345 shares in the company, valued at approximately $8,550,825.15. This represents a 97.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,005,302 shares of company stock worth $592,251,748 over the last 90 days. Insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock traded down $0.10 during midday trading on Tuesday, reaching $9.80. The company's stock had a trading volume of 5,205,964 shares, compared to its average volume of 7,476,662. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $9.69 and a 200-day moving average price of $9.34. The stock has a market cap of $6.38 billion, a PE ratio of 490.25 and a beta of 0.74.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%.The firm had revenue of $260.45 million for the quarter, compared to analysts' expectations of $256.21 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. CCC Intelligent Solutions has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on CCCS. Barclays upped their price target on shares of CCC Intelligent Solutions from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Piper Sandler restated a "hold" rating and issued a $10.00 price target on shares of CCC Intelligent Solutions in a research note on Thursday, August 14th. The Goldman Sachs Group decreased their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price target on the stock. in a research note on Monday, June 23rd. Finally, Barrington Research restated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Monday, August 4th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $11.75.

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.