Polen Capital Management LLC Has $4.92 Million Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Key Points

• Polen Capital Management LLC reduced its position in CCC Intelligent Solutions by 28.6%, owning 544,653 shares valued at approximately $4.92 million after selling 217,651 shares in the first quarter.
• In addition, several other institutional investors have altered their stakes, with Invesco Ltd. increasing its position by 36.6% and Swiss National Bank boosting holdings by 3.7%.
• CCC Intelligent Solutions reported a quarterly earnings beat with $0.09 EPS and revenue of $260.45 million, reflecting a 12.0% increase compared to the same quarter last year.

Polen Capital Management LLC reduced its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 28.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 544,653 shares of the company's stock after selling 217,651 shares during the period. Polen Capital Management LLC owned 0.08% of CCC Intelligent Solutions worth $4,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in CCC Intelligent Solutions by 36.6% in the 1st quarter. Invesco Ltd. now owns 521,828 shares of the company's stock valued at $4,712,000 after buying an additional 139,869 shares during the last quarter. Swiss National Bank boosted its holdings in shares of CCC Intelligent Solutions by 3.7% during the 1st quarter. Swiss National Bank now owns 826,500 shares of the company's stock worth $7,463,000 after buying an additional 29,500 shares during the period. Delphi Financial Group Inc. boosted its holdings in CCC Intelligent Solutions by 34.2% in the 1st quarter. Delphi Financial Group Inc. now owns 76,529 shares of the company's stock valued at $691,000 after purchasing an additional 19,514 shares during the period. Headlands Technologies LLC lifted its holdings in shares of CCC Intelligent Solutions by 241.5% during the 1st quarter. Headlands Technologies LLC now owns 55,541 shares of the company's stock worth $502,000 after acquiring an additional 39,275 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of CCC Intelligent Solutions by 11.7% during the 1st quarter. Chicago Partners Investment Group LLC now owns 19,763 shares of the company's stock worth $177,000 after acquiring an additional 2,077 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

CCC Intelligent Solutions Price Performance

Shares of NYSE:CCCS opened at $9.52 on Friday. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 476.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a 50 day simple moving average of $9.47 and a 200 day simple moving average of $9.50. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $260.45 million during the quarter, compared to the consensus estimate of $256.21 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS. Research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Lauren Young sold 30,000,000 shares of the company's stock in a transaction that occurred on 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 directly owned 866,345 shares in the company, valued at approximately $8,550,825.15. This represents a 97.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric Wei sold 30,000,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the completion of the transaction, the director owned 866,345 shares of the company's stock, valued at approximately $8,550,825.15. This trade represents a 97.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,005,302 shares of company stock worth $1,137,051,748. 6.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CCCS. Morgan Stanley cut their price target on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group cut their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a report 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 for the company. in a report on Monday, June 23rd. Barrington Research reaffirmed an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, August 4th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, CCC Intelligent Solutions currently has a consensus rating of "Hold" and a consensus target price of $12.07.

CCC Intelligent Solutions 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.

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