Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,388 shares of the company’s stock after selling 1,535 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CCC Intelligent Solutions were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CCCS. Vanguard Group Inc. lifted its holdings in CCC Intelligent Solutions by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,765,795 shares of the company’s stock valued at $237,173,000 after purchasing an additional 1,188,369 shares in the last quarter. Invesco Ltd. boosted its position in CCC Intelligent Solutions by 19.2% during the third quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock worth $104,437,000 after acquiring an additional 1,260,457 shares during the last quarter. Riverbridge Partners LLC grew its stake in CCC Intelligent Solutions by 41.6% during the 4th quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock valued at $77,865,000 after acquiring an additional 2,009,175 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in CCC Intelligent Solutions by 31.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,451,668 shares of the company’s stock valued at $73,484,000 after acquiring an additional 1,528,766 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in CCC Intelligent Solutions by 306.4% in the 3rd quarter. Brown Advisory Inc. now owns 4,562,530 shares of the company’s stock worth $60,910,000 after purchasing an additional 3,439,776 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CCCS shares. Piper Sandler upped their price target on CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Barclays raised their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday. Evercore ISI lifted their target price on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Finally, Citigroup reissued a “buy” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS opened at $10.81 on Friday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of -51.48 and a beta of 0.63. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.74 and a 52 week high of $13.41. The company has a fifty day simple moving average of $11.72 and a two-hundred day simple moving average of $11.45.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $228.60 million for the quarter, compared to analysts’ expectations of $222.80 million. CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. As a group, equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Githesh Ramamurthy sold 57,619 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total value of $663,770.88. Following the sale, the insider now directly owns 6,463,840 shares in the company, valued at approximately $74,463,436.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 57,619 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $11.52, for a total transaction of $663,770.88. Following the completion of the sale, the insider now directly owns 6,463,840 shares of the company’s stock, valued at approximately $74,463,436.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Young sold 41,165,139 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the transaction, the director now owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,706,755 shares of company stock worth $681,785,331. Company insiders own 6.67% of the company’s stock.

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.