First Trust Advisors LP Sells 291,472 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

First Trust Advisors LP decreased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 29.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 712,724 shares of the company's stock after selling 291,472 shares during the period. First Trust Advisors LP owned approximately 0.11% of CCC Intelligent Solutions worth $8,360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CCCS. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth about $25,000. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at approximately $28,000. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at approximately $31,000. GAMMA Investing LLC boosted its position in shares of CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock valued at $39,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth $54,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Stock Up 0.9 %

CCCS stock traded up $0.08 during midday trading on Friday, hitting $9.26. The company's stock had a trading volume of 4,302,253 shares, compared to its average volume of 4,707,074. The firm's 50-day moving average is $9.10 and its 200-day moving average is $10.65. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The company has a market cap of $6.10 billion, a PE ratio of 463.23 and a beta of 0.77.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Eileen Schloss sold 27,478 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the transaction, the director now directly owns 26,569 shares of the company's stock, valued at $228,493.40. The trade was a 50.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rodney Christo sold 5,846 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were 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. Insiders sold 42,087,456 shares of company stock worth $434,240,401 over the last quarter. 6.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CCCS shares. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Morgan Stanley lowered their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Barclays cut their price target on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler reiterated a "neutral" rating and set a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.57.

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.