Wellington Management Group LLP Sells 334,806 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wellington Management Group LLP decreased its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,944,446 shares of the company's stock after selling 334,806 shares during the quarter. Wellington Management Group LLP owned approximately 0.45% of CCC Intelligent Solutions worth $34,538,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its position in CCC Intelligent Solutions by 5.9% during the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company's stock valued at $223,000 after buying an additional 1,054 shares during the period. Berry Wealth Group LP boosted its position in CCC Intelligent Solutions by 5.8% during the fourth quarter. Berry Wealth Group LP now owns 20,224 shares of the company's stock worth $237,000 after purchasing an additional 1,109 shares during the period. Arizona State Retirement System boosted its position in CCC Intelligent Solutions by 1.0% during the fourth quarter. Arizona State Retirement System now owns 117,507 shares of the company's stock worth $1,378,000 after purchasing an additional 1,150 shares during the period. Treasurer of the State of North Carolina boosted its position in CCC Intelligent Solutions by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 198,807 shares of the company's stock worth $2,332,000 after purchasing an additional 1,250 shares during the period. Finally, Townsquare Capital LLC boosted its position in CCC Intelligent Solutions by 6.5% during the fourth quarter. Townsquare Capital LLC now owns 24,338 shares of the company's stock worth $285,000 after purchasing an additional 1,475 shares during the period. Institutional investors own 95.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CCCS shares. Piper Sandler cut their target price on shares of 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. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barclays cut their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Morgan Stanley cut their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price objective on shares of 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $12.19.

Insiders Place Their Bets

In related news, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the transaction, the director now directly owns 54,047 shares of the company's stock, valued at $485,342.06. The trade was a 38.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Crescenzo Neil E. De bought 100,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $8.54 per share, for a total transaction of $854,000.00. Following the completion of the purchase, the director now owns 213,429 shares of the company's stock, valued at $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. Over the last ninety days, insiders have sold 60,067,379 shares of company stock valued at $545,395,616. 6.03% of the stock is currently owned by corporate insiders.

CCC Intelligent Solutions Price Performance

CCCS traded up $0.15 on Wednesday, reaching $8.96. The company had a trading volume of 5,980,824 shares, compared to its average volume of 5,037,037. The business has a 50 day simple moving average of $8.85 and a 200 day simple moving average of $10.31. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 448.22 and a beta of 0.76. 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 52-week low of $8.14 and a 52-week high of $12.88.

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

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.