State of New Jersey Common Pension Fund D Buys 21,017 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

State of New Jersey Common Pension Fund D lifted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,835 shares of the company’s stock after acquiring an additional 21,017 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CCC Intelligent Solutions were worth $2,031,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Atria Investments Inc grew its holdings in CCC Intelligent Solutions by 13.6% in the third quarter. Atria Investments Inc now owns 77,427 shares of the company’s stock worth $856,000 after purchasing an additional 9,287 shares during the last quarter. Principal Financial Group Inc. grew its stake in CCC Intelligent Solutions by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock worth $292,654,000 after buying an additional 1,234,281 shares during the last quarter. Marks Group Wealth Management Inc increased its position in CCC Intelligent Solutions by 17.3% during the 3rd quarter. Marks Group Wealth Management Inc now owns 12,486 shares of the company’s stock valued at $138,000 after buying an additional 1,838 shares in the last quarter. Amalgamated Bank raised its stake in CCC Intelligent Solutions by 5.8% in the third quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock valued at $262,000 after buying an additional 1,299 shares during the last quarter. Finally, Cannon Global Investment Management LLC purchased a new stake in CCC Intelligent Solutions in the third quarter valued at about $564,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Price Performance

NYSE:CCCS opened at $11.77 on Friday. The stock has a market capitalization of $7.36 billion, a PE ratio of 588.50, a price-to-earnings-growth ratio of 6.67 and a beta of 0.63. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.68. The stock’s 50-day moving average price is $10.96 and its 200-day moving average price is $11.00. 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 (NYSE:CCCS) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. As a group, equities analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several recent analyst reports. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Barclays decreased their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Bank of America began coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target for the company. Finally, Jefferies Financial Group lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.78.

Insider Activity at CCC Intelligent Solutions

In other news, insider Michael John Silva sold 29,022 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the completion of the sale, the insider now directly owns 30,172 shares in the company, valued at $324,349. This represents a 49.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Githesh Ramamurthy sold 9,348 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total transaction of $107,502.00. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at $55,177,460. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,664 shares of company stock valued at $550,614. 6.67% of the stock is owned by corporate insiders.

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.