Price T Rowe Associates Inc. MD Lowers Position in CCC Intelligent Solutions Holdings Inc. $CCCS

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in CCC Intelligent Solutions by 30.6%, holding now about 1.04% of the company, valued at approximately $61.66 million.
• Directors Eric Wei and Lauren Young sold a combined 60 million shares of CCC Intelligent Solutions on August 7th, resulting in a decrease of their ownership by 97.19%.
• CCC Intelligent Solutions reported a 12% year-over-year revenue increase, with quarterly revenue of $260.45 million, exceeding analyst expectations.

Price T Rowe Associates Inc. MD lowered its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 30.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,827,626 shares of the company's stock after selling 3,009,728 shares during the period. Price T Rowe Associates Inc. MD owned about 1.04% of CCC Intelligent Solutions worth $61,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCCS. Quarry LP bought a new stake in CCC Intelligent Solutions during the 4th quarter worth $36,000. Banque Cantonale Vaudoise bought a new stake in shares of CCC Intelligent Solutions in the 1st quarter valued at about $37,000. Tocqueville Asset Management L.P. bought a new stake in shares of CCC Intelligent Solutions in the 1st quarter valued at about $90,000. Machina Capital S.A.S. bought a new stake in shares of CCC Intelligent Solutions in the 1st quarter valued at about $98,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of CCC Intelligent Solutions in the 1st quarter valued at about $100,000. Institutional investors own 95.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CCCS shares. Piper Sandler reiterated a "hold" rating and issued a $10.00 price target on shares of CCC Intelligent Solutions in a research report on Thursday, August 14th. Barclays upped their price target on CCC Intelligent Solutions from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price target on the stock. in a research report on Monday, June 23rd. Barrington Research reiterated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, August 4th. Finally, The Goldman Sachs Group reduced their price target on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $11.75.

CCC Intelligent Solutions Trading Down 1.3%

Shares of CCC Intelligent Solutions stock traded down $0.13 on Friday, hitting $9.90. 4,596,394 shares of the company's stock traded hands, compared to its average volume of 7,492,489. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88. 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 company has a fifty day moving average of $9.68 and a two-hundred day moving average of $9.36. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 495.25 and a beta of 0.74.

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

Insiders Place Their Bets

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 5,302 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $9.76, for a total value of $51,747.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric Wei sold 30,000,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director owned 866,345 shares in the company, valued at approximately $8,550,825.15. The trade was a 97.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,005,302 shares of company stock worth $592,251,748. Corporate insiders own 6.03% of the company's stock.

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.