Pinebridge Investments L.P. Trims Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Pinebridge Investments L.P. trimmed its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,559,865 shares of the company's stock after selling 227,838 shares during the quarter. Pinebridge Investments L.P. owned 0.39% of CCC Intelligent Solutions worth $30,027,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in CCC Intelligent Solutions in the fourth quarter worth $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 CCC Intelligent Solutions during the fourth quarter valued at $31,000. GAMMA Investing LLC grew its holdings in CCC Intelligent Solutions by 286.9% in the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock worth $39,000 after purchasing an additional 2,479 shares during the period. Finally, Financial Management Professionals Inc. purchased a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 27,478 shares of CCC Intelligent Solutions 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 sale, the director now directly owns 26,569 shares in the company, valued at approximately $228,493.40. The trade was a 50.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the transaction, the director now owns 2,258,343 shares of the company's stock, valued at $23,306,099.76. The trade was a 94.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,087,456 shares of company stock valued at $434,240,401 over the last 90 days. Insiders own 6.03% of the company's stock.

Analysts Set New Price Targets

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

CCC Intelligent Solutions Stock Down 0.8 %

Shares of CCCS stock traded down $0.08 during mid-day trading on Monday, hitting $8.90. The stock had a trading volume of 903,702 shares, compared to its average volume of 4,671,403. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market capitalization of $5.86 billion, a P/E ratio of 444.47 and a beta of 0.77. The firm's 50-day moving average is $9.22 and its two-hundred day moving average is $10.71. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88.

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.