CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Holdings Decreased by Trust Point Inc.

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of CCC Intelligent Solutions by 4,172.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company's stock worth $115,394,000 after buying an additional 9,607,085 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth about $58,080,000. Norges Bank purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth about $50,032,000. T. Rowe Price Investment Management Inc. boosted its position in shares of CCC Intelligent Solutions by 6.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock worth $807,807,000 after buying an additional 4,060,284 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of CCC Intelligent Solutions by 753.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,873,418 shares of the company's stock worth $45,435,000 after buying an additional 3,419,507 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS traded up $0.33 during trading hours on Thursday, reaching $9.42. 10,586,797 shares of the stock were exchanged, compared to its average volume of 5,333,947. 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 firm has a 50 day simple moving average of $8.92 and a 200-day simple moving average of $10.07. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. The stock has a market capitalization of $6.21 billion, a P/E ratio of 471.24 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates 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 quarter last year, the business posted $0.09 EPS. CCC Intelligent Solutions's quarterly revenue was up 10.7% compared to the same quarter last year. 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their target price on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Barclays reduced their price target on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group reduced their price target 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 reduced their price target 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. Finally, Barrington Research reissued an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.19.

Insider Transactions at CCC Intelligent Solutions

In related news, Director Eric Wei sold 30,000,000 shares of the company's stock in a transaction dated 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 $14,186,083.52. This represents a 95.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $8.54 per share, with a total value of $854,000.00. Following the acquisition, the director now directly 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 ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 60,067,379 shares of company stock worth $545,395,616. 6.03% of the stock is currently owned by company 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.