Riverbridge Partners LLC Reduces Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Riverbridge Partners LLC lessened its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,320,713 shares of the company's stock after selling 579,438 shares during the quarter. Riverbridge Partners LLC owned approximately 0.81% of CCC Intelligent Solutions worth $48,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $31,000. Quarry LP bought a new position in CCC Intelligent Solutions in the fourth quarter worth $36,000. First Horizon Advisors Inc. raised its holdings in CCC Intelligent Solutions by 90.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company's stock worth $69,000 after purchasing an additional 2,805 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in CCC Intelligent Solutions by 27.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,258 shares of the company's stock worth $86,000 after purchasing an additional 1,546 shares in the last quarter. Finally, SRS Capital Advisors Inc. bought a new position in CCC Intelligent Solutions in the fourth quarter worth $124,000. Institutional investors own 95.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CCCS shares. The Goldman Sachs Group decreased their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a report on Wednesday, May 7th. Morgan Stanley decreased their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Piper Sandler decreased their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price objective for the company. in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.06.

CCC Intelligent Solutions Stock Down 1.3%

Shares of NYSE:CCCS traded down $0.12 on Monday, hitting $9.22. 12,708,447 shares of the company traded hands, compared to its average volume of 5,402,147. 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 quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $8.94 and a 200-day simple moving average of $9.96. The company has a market cap of $6.08 billion, a PE ratio of 461.23 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 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 during the quarter, compared to the consensus estimate of $249.87 million. During the same period last year, the company earned $0.09 EPS. CCC Intelligent Solutions's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Crescenzo Neil E. De bought 100,000 shares of the company's stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of $8.54 per share, with a total value of $854,000.00. Following the completion of the transaction, the director now owns 213,429 shares of the company's stock, valued at approximately $1,822,683.66. This trade represents a 88.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric Wei sold 30,000,000 shares of the firm's stock in a transaction dated 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 now directly owns 1,562,344 shares in the company, valued at $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,033,324 shares of company stock worth $545,089,802. 6.03% of the stock is owned by corporate insiders.

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.