Quantinno Capital Management LP Sells 20,663 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Quantinno Capital Management LP trimmed its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 54.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,495 shares of the company’s stock after selling 20,663 shares during the quarter. Quantinno Capital Management LP’s holdings in CCC Intelligent Solutions were worth $193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after purchasing an additional 1,729 shares in the last quarter. CWM LLC grew its holdings in shares of CCC Intelligent Solutions by 352.6% during the second quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after buying an additional 2,419 shares during the last quarter. Huntington National Bank increased its position in shares of CCC Intelligent Solutions by 37.6% during the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after acquiring an additional 1,599 shares in the last quarter. Marco Investment Management LLC acquired a new stake in shares of CCC Intelligent Solutions in the 3rd quarter worth about $113,000. Finally, KBC Group NV lifted its position in CCC Intelligent Solutions by 81.7% in the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock valued at $114,000 after acquiring an additional 4,637 shares in the last quarter. 95.79% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Githesh Ramamurthy sold 9,348 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the transaction, the insider now directly owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mary Jo Prigge sold 19,276 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $12.67, for a total transaction of $244,226.92. Following the completion of the transaction, the insider now owns 97,268 shares of the company’s stock, valued at $1,232,385.56. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock valued at $5,390,863 in the last 90 days. Insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock opened at $12.22 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 611.00, a P/E/G ratio of 6.80 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88. The firm’s 50-day simple moving average is $11.64 and its two-hundred day simple moving average is $11.18.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter in the previous year, the firm posted $0.03 EPS. CCC Intelligent Solutions’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler reissued a “neutral” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Bank of America started coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price objective on the stock. Barclays lowered their target price on shares of 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.89.

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.