Principal Financial Group Inc. Buys 1,189,466 Shares of CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Principal Financial Group increased its stake in CCC Intelligent Solutions by 3.2% in Q1, buying 1,189,466 more shares and ending with 37.85 million shares valued at about $227.1 million.
• CCC reported better-than-expected earnings for the quarter, posting $0.11 EPS versus the $0.05 estimate, while revenue rose 11.8% year over year to $281.27 million.
• Wall Street sentiment is mixed: analysts currently have an average rating of Hold with a consensus price target of $9.25, though several firms still rate the stock a Buy.

Principal Financial Group Inc. lifted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,848,476 shares of the company's stock after purchasing an additional 1,189,466 shares during the quarter. Principal Financial Group Inc. owned about 6.45% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $227,091,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Root Financial Partners LLC lifted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% in the first quarter. Root Financial Partners LLC now owns 4,858 shares of the company's stock worth $29,000 after buying an additional 4,644 shares during the last quarter. Associated Banc Corp boosted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 33.0% during the first quarter. Associated Banc Corp now owns 22,368 shares of the company's stock worth $134,000 after buying an additional 5,544 shares during the period. Pictet Asset Management Holding SA increased its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 8.2% during the first quarter. Pictet Asset Management Holding SA now owns 83,807 shares of the company's stock valued at $503,000 after acquiring an additional 6,354 shares during the last quarter. Essex Financial Services Inc. bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter valued at $61,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the first quarter valued at $65,000. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Holdings Inc. Common Stock Price Performance

NASDAQ:CCC opened at $6.07 on Wednesday. CCC Intelligent Solutions Holdings Inc. Common Stock has a 1-year low of $4.08 and a 1-year high of $10.50. The business has a 50-day simple moving average of $4.88. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 101.18 and a beta of 0.51. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.73.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $281.27 million for the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.18% and a return on equity of 6.08%. The company's revenue for the quarter was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCC. Weiss Ratings upgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Citigroup downgraded shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and cut their price target for the company from $10.00 to $6.00 in a report on Friday, April 10th. Wall Street Zen raised shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Stifel Nicolaus reissued a "buy" rating and issued a $9.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 2nd. Finally, Jefferies Financial Group restated a "buy" rating and set a $8.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $9.25.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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