Wellington Management Group LLP Invests $17.87 Million in CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Wellington Management Group initiated a $17.87 million position in CCC Intelligent Solutions, purchasing 3.46 million shares and owning approximately 0.59% of the company. Institutional investors collectively hold 95.79% of CCC’s shares.
• Analyst sentiment remains generally positive, with three Buy ratings and two Hold ratings. CCC has a consensus rating of “Moderate Buy” and an average price target of $9.12.
• CCC reported quarterly EPS of $0.10, beating estimates of $0.05, while revenue rose 9.8% year over year to $285.93 million. The stock opened at $7.51, compared with a 52-week range of $4.08 to $9.91.

Wellington Management Group LLP bought a new position in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,462,931 shares of the company's stock, valued at approximately $17,869,000. Wellington Management Group LLP owned 0.59% of CCC Intelligent Solutions Holdings Inc. Common Stock at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% during the first quarter. Root Financial Partners LLC now owns 4,858 shares of the company's stock worth $29,000 after acquiring an additional 4,644 shares during the last quarter. Essential Partners LLC acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at about $38,000. Essex Financial Services Inc. purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth about $61,000. Kera Capital Partners Inc. purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth about $62,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth approximately $65,000. Institutional investors and hedge funds own 95.79% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 2nd. Jefferies Financial Group set a $7.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 30th. Citigroup raised their target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Wall Street Zen lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Weiss Ratings raised shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

CCC Intelligent Solutions Holdings Inc. Common Stock stock opened at $7.51 on Monday. The business's 50 day moving average is $6.45. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 93.89 and a beta of 0.49. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. CCC Intelligent Solutions Holdings Inc. Common Stock has a one year low of $4.08 and a one year high of $9.91.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $285.93 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.81% and a return on equity of 7.18%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current fiscal year.

CCC Intelligent Solutions Holdings Inc. Common Stock Company Profile

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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