Triple Frond Partners LLC purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,415,000 shares of the company's stock, valued at approximately $21,807,000. CCC Intelligent Solutions accounts for 2.9% of Triple Frond Partners LLC's portfolio, making the stock its 10th largest holding. Triple Frond Partners LLC owned approximately 0.37% of CCC Intelligent Solutions at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in CCCS. Legal & General Group Plc grew its position in CCC Intelligent Solutions by 13.5% during the fourth quarter. Legal & General Group Plc now owns 424,741 shares of the company's stock valued at $4,982,000 after acquiring an additional 50,359 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in CCC Intelligent Solutions during the fourth quarter valued at about $231,000. Townsquare Capital LLC boosted its position in shares of CCC Intelligent Solutions by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 24,338 shares of the company's stock worth $285,000 after buying an additional 1,475 shares during the period. Barclays PLC boosted its position in shares of CCC Intelligent Solutions by 357.3% in the fourth quarter. Barclays PLC now owns 498,560 shares of the company's stock worth $5,849,000 after buying an additional 389,540 shares during the period. Finally, Mariner LLC boosted its position in shares of CCC Intelligent Solutions by 2.7% in the fourth quarter. Mariner LLC now owns 71,244 shares of the company's stock worth $836,000 after buying an additional 1,878 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.
Insiders Place Their Bets
In other CCC Intelligent Solutions news, Director Eric Wei sold 30,000,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the sale, the director owned 866,345 shares in the company, valued at $8,550,825.15. This represents a 97.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Rodney Christo sold 5,302 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $9.76, for a total value of $51,747.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,005,302 shares of company stock worth $592,251,748. 6.03% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on CCCS shares. The Goldman Sachs Group decreased their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research 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 target price for the company. in a research report on Monday, June 23rd. Piper Sandler reaffirmed a "neutral" rating and issued a $10.00 target price on shares of CCC Intelligent Solutions in a research report on Thursday, August 14th. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, August 4th. Finally, Barclays upped their target price on CCC Intelligent Solutions from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.21.
Get Our Latest Stock Report on CCCS
CCC Intelligent Solutions Trading Up 0.1%
NYSE:CCCS opened at $9.72 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88. The business's 50-day simple moving average is $9.55 and its 200 day simple moving average is $9.41. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 486.24 and a beta of 0.74.
CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $260.45 million for the quarter, compared to analysts' expectations of $256.21 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company's revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.
About CCC Intelligent Solutions
(
Free Report)
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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