Trust Point Inc. Cuts Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Trust Point Inc. lessened its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 46.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 37,117 shares of the company's stock after selling 32,465 shares during the period. Trust Point Inc.'s holdings in CCC Intelligent Solutions were worth $335,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. TD Private Client Wealth LLC bought a new position in CCC Intelligent Solutions in the 4th quarter valued at $31,000. Quarry LP bought a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at about $36,000. First Horizon Advisors Inc. increased its position in shares of CCC Intelligent Solutions by 90.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company's stock valued at $69,000 after acquiring an additional 2,805 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of CCC Intelligent Solutions by 27.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,258 shares of the company's stock valued at $86,000 after acquiring an additional 1,546 shares during the last quarter. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at about $124,000. Institutional investors and hedge funds own 95.79% of the company's stock.

Insider Activity at CCC Intelligent Solutions

In other news, Director Eric Wei sold 30,000,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the sale, the director now owns 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. This represents a 95.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rodney Christo sold 5,846 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total transaction of $53,490.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,033,324 shares of company stock worth $545,089,802. 6.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CCCS. Morgan Stanley decreased their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Barrington Research restated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. The Goldman Sachs Group cut their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Piper Sandler cut their target price on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Finally, Barclays cut their target price on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.19.

CCC Intelligent Solutions Trading Down 0.8%

CCCS stock traded down $0.08 during trading on Friday, reaching $9.34. The company had a trading volume of 12,075,336 shares, compared to its average volume of 5,372,803. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. The business has a 50 day moving average of $8.93 and a 200 day moving average of $10.01. The company has a market cap of $6.16 billion, a P/E ratio of 467.23 and a beta of 0.72. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting analysts' consensus estimates of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm had revenue of $251.57 million for the quarter, compared to analysts' expectations of $249.87 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

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.