TimesSquare Capital Management LLC Takes Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

TimesSquare Capital Management LLC acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 223,000 shares of the company's stock, valued at approximately $2,540,000.

Several other large investors also recently bought and sold shares of CCCS. Fort Washington Investment Advisors Inc. OH grew its position in shares of CCC Intelligent Solutions by 6.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,225,063 shares of the company's stock valued at $25,343,000 after purchasing an additional 127,738 shares in the last quarter. Riverbridge Partners LLC grew its position in shares of CCC Intelligent Solutions by 41.6% in the fourth quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company's stock valued at $77,865,000 after purchasing an additional 2,009,175 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $3,818,000. Invesco Ltd. grew its position in shares of CCC Intelligent Solutions by 19.2% in the third quarter. Invesco Ltd. now owns 7,822,986 shares of the company's stock valued at $104,437,000 after purchasing an additional 1,260,457 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in CCC Intelligent Solutions in the third quarter valued at approximately $8,694,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock traded down $0.05 during mid-day trading on Friday, hitting $10.62. 1,453,485 shares of the stock were exchanged, compared to its average volume of 3,143,993. The stock's fifty day simple moving average is $11.65 and its two-hundred day simple moving average is $11.40. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of -50.62 and a beta of 0.63. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.10 and a 12-month high of $13.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.53 and a current ratio of 2.53.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. The business had revenue of $228.60 million for the quarter, compared to analyst estimates of $222.80 million. On average, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

Insider Transactions at CCC Intelligent Solutions

In related news, Director Lauren Young sold 41,165,139 shares of the firm's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the sale, the director now owns 5,164,022 shares in the company, valued at $58,508,369.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Rodney Christo sold 4,606 shares of CCC Intelligent Solutions stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $11.88, for a total transaction of $54,719.28. Following the completion of the sale, the chief accounting officer now directly owns 14,154 shares in the company, valued at approximately $168,149.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lauren Young sold 41,165,139 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the transaction, the director now directly owns 5,164,022 shares of the company's stock, valued at $58,508,369.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,706,755 shares of company stock worth $681,785,331. Company insiders own 6.67% of the company's stock.

Analyst Upgrades and Downgrades

CCCS has been the topic of a number of recent analyst reports. Barclays upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday, February 29th. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 1st. Evercore ISI upped their price objective on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an "outperform" rating in a report on Wednesday, March 13th. Piper Sandler upped their price target on CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Finally, Citigroup restated a "buy" rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.63.

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.