Riverbridge Partners LLC Increases Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Riverbridge Partners LLC lifted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 41.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,836,239 shares of the company's stock after purchasing an additional 2,009,175 shares during the period. Riverbridge Partners LLC owned about 1.13% of CCC Intelligent Solutions worth $77,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCCS. Captrust Financial Advisors purchased a new position in CCC Intelligent Solutions during the second quarter valued at $53,000. Tower Research Capital LLC TRC grew its stake in CCC Intelligent Solutions by 21.8% during the second quarter. Tower Research Capital LLC TRC now owns 5,403 shares of the company's stock valued at $61,000 after acquiring an additional 968 shares in the last quarter. Quantbot Technologies LP grew its stake in CCC Intelligent Solutions by 252.1% during the first quarter. Quantbot Technologies LP now owns 5,735 shares of the company's stock valued at $63,000 after acquiring an additional 4,106 shares in the last quarter. Royal Bank of Canada grew its stake in CCC Intelligent Solutions by 277.6% during the first quarter. Royal Bank of Canada now owns 7,696 shares of the company's stock valued at $85,000 after acquiring an additional 5,658 shares in the last quarter. Finally, Covestor Ltd grew its stake in CCC Intelligent Solutions by 781.7% during the third quarter. Covestor Ltd now owns 6,895 shares of the company's stock valued at $92,000 after acquiring an additional 6,113 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Price Performance

Shares of CCC Intelligent Solutions stock remained flat at $11.78 during trading on Thursday. 1,815,975 shares of the stock traded hands, compared to its average volume of 3,096,079. The company has a 50 day simple moving average of $11.61 and a two-hundred day simple moving average of $11.58. The firm has a market capitalization of $7.12 billion, a PE ratio of -56.10 and a beta of 0.62. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.29 and a current ratio of 2.29. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.42 and a 12-month high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $228.60 million during the quarter, compared to the consensus estimate of $222.80 million. CCC Intelligent Solutions had a positive return on equity of 5.80% and a negative net margin of 10.67%. Analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CCCS. Evercore ISI raised their target price on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an "outperform" rating in a research note on Wednesday, March 13th. Piper Sandler increased their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, March 1st. Barrington Research reiterated an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Thursday, February 29th. Citigroup reiterated a "buy" rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Thursday, February 8th. Finally, Barclays increased their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.63.

Insider Buying and Selling

In related news, SVP Marc Fredman sold 28,804 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $11.97, for a total value of $344,783.88. Following the transaction, the senior vice president now owns 183,738 shares of the company's stock, valued at approximately $2,199,343.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Marc Fredman sold 28,804 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $11.97, for a total value of $344,783.88. Following the transaction, the senior vice president now owns 183,738 shares of the company's stock, valued at approximately $2,199,343.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director International L.P. Advent sold 22,000,000 shares of the firm's stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $10.47, for a total transaction of $230,340,000.00. Following the completion of the transaction, the director now directly owns 6,119,048 shares in the company, valued at approximately $64,066,432.56. The disclosure for this sale can be found here. Insiders have sold 64,999,642 shares of company stock valued at $718,660,438 in the last 90 days. Company insiders own 6.47% of the company's stock.

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.

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