Gotham Asset Management LLC Acquires 61,432 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Gotham Asset Management LLC grew its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,930 shares of the company's stock after purchasing an additional 61,432 shares during the period. Gotham Asset Management LLC owned approximately 0.12% of CCC Intelligent Solutions worth $9,031,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at $28,000. JPMorgan Chase & Co. grew its position in shares of CCC Intelligent Solutions by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company's stock valued at $5,016,000 after purchasing an additional 85,725 shares in the last quarter. Barclays PLC lifted its holdings in shares of CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company's stock worth $1,205,000 after acquiring an additional 66,386 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of CCC Intelligent Solutions by 29.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company's stock worth $143,822,000 after acquiring an additional 2,752,950 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of CCC Intelligent Solutions by 3.0% during the 4th quarter. Wells Fargo & Company MN now owns 903,510 shares of the company's stock worth $10,598,000 after acquiring an additional 26,694 shares during the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Trading Up 1.6%

Shares of NYSE:CCCS traded up $0.14 during midday trading on Friday, hitting $9.12. 6,270,856 shares of the stock traded hands, compared to its average volume of 4,905,688. The stock has a market capitalization of $6.01 billion, a PE ratio of 456.23 and a beta of 0.76. The business's 50 day moving average is $8.95 and its two-hundred day moving average is $10.51. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88.

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

Insiders Place Their Bets

In related news, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy A. Welsh acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the transaction, the insider now owns 168,472 shares of the company's stock, valued at $1,521,302.16. This trade represents a 146.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 42,087,456 shares of company stock worth $434,240,401. 6.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barrington Research reissued an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Barclays lowered their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their price target 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. Three research analysts have rated the stock with a hold rating and five 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 $12.19.

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.