CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock Position Boosted by Adero Partners LLC

Adero Partners LLC lifted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 118.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,780,925 shares of the company’s stock after purchasing an additional 3,135,650 shares during the quarter. CCC Intelligent Solutions comprises about 4.2% of Adero Partners LLC’s holdings, making the stock its 7th largest holding. Adero Partners LLC owned 0.92% of CCC Intelligent Solutions worth $63,879,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCCS. Ghisallo Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions in the second quarter valued at approximately $132,917,000. Akre Capital Management LLC acquired a new stake in CCC Intelligent Solutions during the first quarter worth $83,720,000. Principal Financial Group Inc. increased its stake in CCC Intelligent Solutions by 37.8% during the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock worth $280,530,000 after acquiring an additional 6,921,161 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in CCC Intelligent Solutions during the second quarter worth $70,844,000. Finally, Van Berkom & Associates Inc. acquired a new stake in CCC Intelligent Solutions during the second quarter worth $61,605,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

CCCS has been the subject of several recent analyst reports. Barclays cut their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Bank of America initiated coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price for the company. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $14.00 to $15.00 in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on 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. Finally, Jefferies Financial Group lowered their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average price target of $13.78.

CCC Intelligent Solutions Trading Down 0.6 %

NYSE:CCCS opened at $11.77 on Friday. The firm has a market cap of $7.36 billion, a PE ratio of 78.47, a price-to-earnings-growth ratio of 6.76 and a beta of 0.63. The stock has a fifty day moving average price of $10.96 and a 200 day moving average price of $11.00. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.68. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm 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%. CCC Intelligent Solutions’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.03 earnings per share. Sell-side analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 8,805 shares of CCC Intelligent Solutions stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.50, for a total transaction of $101,257.50. Following the sale, the insider now owns 4,798,040 shares in the company, valued at approximately $55,177,460. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Jo Prigge sold 2,489 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the sale, the insider now owns 97,268 shares in the company, valued at $1,167,216. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,664 shares of company stock worth $550,614. Company insiders own 6.67% of the company’s stock.

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.