CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,303,495 shares of the company's stock after acquiring an additional 363,944 shares during the period. Principal Financial Group Inc. owned 4.14% of CCC Intelligent Solutions worth $246,551,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CCCS. T. Rowe Price Investment Management Inc. raised its holdings in shares of CCC Intelligent Solutions by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock worth $807,807,000 after purchasing an additional 4,060,284 shares during the period. Vanguard Group Inc. raised its holdings in shares of CCC Intelligent Solutions by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock worth $602,772,000 after purchasing an additional 847,334 shares during the period. Brown Advisory Inc. raised its holdings in shares of CCC Intelligent Solutions by 2.2% in the 4th quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company's stock worth $164,613,000 after purchasing an additional 299,943 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of CCC Intelligent Solutions by 1.5% in the 1st quarter. Conestoga Capital Advisors LLC now owns 12,439,365 shares of the company's stock worth $112,327,000 after purchasing an additional 178,330 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of CCC Intelligent Solutions by 1.5% in the 1st quarter. Bessemer Group Inc. now owns 9,902,693 shares of the company's stock worth $89,421,000 after purchasing an additional 143,907 shares during the period. 95.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group cut their price objective 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. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective on the stock. in a report on Monday, June 23rd. 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. Morgan Stanley cut their price objective 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, Barclays dropped their target price 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. One investment 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, CCC Intelligent Solutions currently has an average rating of "Moderate Buy" and an average price target of $12.06.

CCC Intelligent Solutions Stock Down 0.5%

CCCS stock traded down $0.05 during midday trading on Monday, hitting $9.70. 6,823,419 shares of the company's stock were exchanged, compared to its average volume of 5,474,703. 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 $9.08 and a 200-day moving average price of $9.78. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 485.24 and a beta of 0.74.

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

Insiders Place Their Bets

In other news, Director Crescenzo Neil E. De bought 100,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $8.54 per share, for a total transaction of $854,000.00. Following the transaction, the director owned 213,429 shares in the company, valued at $1,822,683.66. The trade was a 88.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Young sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the transaction, the director owned 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. The trade was a 95.05% decrease in their position. The disclosure for this sale can be found here. 6.03% of the stock is owned by insiders.

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.