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

First Trust Advisors LP lessened its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 29.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 712,724 shares of the company's stock after selling 291,472 shares during the quarter. First Trust Advisors LP owned 0.11% of CCC Intelligent Solutions worth $8,360,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new position in CCC Intelligent Solutions in the 4th quarter worth $25,000. UMB Bank n.a. acquired a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $28,000. TD Private Client Wealth LLC bought a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $31,000. GAMMA Investing LLC raised its position in CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock valued at $39,000 after buying an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in CCC Intelligent Solutions in the 4th quarter valued at approximately $54,000. Institutional investors own 95.79% of the company's stock.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the completion of the sale, the director now directly owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,087,456 shares of company stock worth $434,240,401 over the last ninety days. Insiders own 6.03% of the company's stock.

Wall Street Analysts Forecast Growth

CCCS has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Barrington Research reissued an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Morgan Stanley reduced 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 note on Wednesday, April 16th. Barclays lowered their target price 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. Finally, Piper Sandler restated a "neutral" rating and issued a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $12.57.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS traded up $0.08 during midday trading on Friday, hitting $9.26. 4,302,253 shares of the company's stock were exchanged, compared to its average volume of 4,693,423. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The company's 50 day moving average price is $9.12 and its 200 day moving average price is $10.67. 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 market capitalization of $6.10 billion, a PE ratio of 463.23 and a beta of 0.77.

About CCC Intelligent Solutions

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.