Twinbeech Capital LP Makes New Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Twinbeech Capital LP bought a new position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 41,669 shares of the company's stock, valued at approximately $489,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCCS. Price T Rowe Associates Inc. MD grew its position in shares of CCC Intelligent Solutions by 4,172.1% during the 4th 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 in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of CCC Intelligent Solutions during the 4th quarter worth $58,080,000. Norges Bank bought a new position in shares of CCC Intelligent Solutions during the 4th quarter worth $50,032,000. T. Rowe Price Investment Management Inc. boosted its position in CCC Intelligent Solutions by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock valued at $807,807,000 after purchasing an additional 4,060,284 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in CCC Intelligent Solutions by 753.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,873,418 shares of the company's stock valued at $45,435,000 after purchasing an additional 3,419,507 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CCCS. Barclays dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Piper Sandler dropped their price objective on CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.19.

Insider Activity at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 20,077 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric Wei sold 42,000,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the sale, the director now owns 2,258,343 shares in the company, valued at $23,306,099.76. This represents a 94.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,087,456 shares of company stock worth $434,240,401. 6.03% of the stock is owned by corporate insiders.

CCC Intelligent Solutions Stock Down 0.1%

CCC Intelligent Solutions stock traded down $0.01 during midday trading on Wednesday, reaching $8.78. The company's stock had a trading volume of 1,920,437 shares, compared to its average volume of 5,037,511. The stock's 50-day simple moving average is $8.89 and its 200-day simple moving average is $10.41. 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 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 $5.78 billion, a P/E ratio of 438.97 and a beta of 0.76.

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. The firm had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current 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.