State Street Corp Boosts Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

State Street Corp boosted its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 32.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,446,518 shares of the company’s stock after purchasing an additional 1,815,816 shares during the quarter. State Street Corp owned approximately 1.19% of CCC Intelligent Solutions worth $82,284,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CCCS. Ghisallo Capital Management LLC purchased a new stake in CCC Intelligent Solutions during the second quarter worth $132,917,000. Principal Financial Group Inc. lifted its position in shares of CCC Intelligent Solutions by 37.8% in the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock valued at $280,530,000 after acquiring an additional 6,921,161 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of CCC Intelligent Solutions in the second quarter valued at $70,844,000. Van Berkom & Associates Inc. purchased a new stake in shares of CCC Intelligent Solutions in the second quarter valued at $61,605,000. Finally, Wasatch Advisors LP lifted its position in shares of CCC Intelligent Solutions by 49.1% in the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock valued at $158,358,000 after acquiring an additional 4,716,587 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Performance

Shares of NYSE:CCCS opened at $12.22 on Tuesday. The firm has a market capitalization of $7.64 billion, a PE ratio of 611.00, a P/E/G ratio of 6.80 and a beta of 0.71. 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 business has a 50-day moving average of $11.64 and a two-hundred day moving average of $11.18. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $9.79 and a 12 month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last announced 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 return on equity of 5.35% and a net margin of 5.02%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share. As a group, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 4,798,040 shares in the company, valued at $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Rodney Christo sold 75,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.80, for a total value of $885,000.00. The disclosure for this sale can be found here. Insiders sold 443,153 shares of company stock worth $5,390,863 over the last three months. 6.67% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays reduced their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Bank of America assumed coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and an average target price of $13.89.

CCC Intelligent Solutions 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.