Rockbridge Capital Management LLC Takes $5.37 Million Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Rockbridge Capital Management LLC bought a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 457,443 shares of the company’s stock, valued at approximately $5,366,000. CCC Intelligent Solutions accounts for approximately 3.1% of Rockbridge Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Rockbridge Capital Management LLC owned 0.07% of CCC Intelligent Solutions as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in shares of CCC Intelligent Solutions by 5.9% during the 4th quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock valued at $223,000 after buying an additional 1,054 shares during the last quarter. Berry Wealth Group LP grew its holdings in CCC Intelligent Solutions by 5.8% during the fourth quarter. Berry Wealth Group LP now owns 20,224 shares of the company’s stock worth $237,000 after acquiring an additional 1,109 shares during the period. Arizona State Retirement System raised its position in CCC Intelligent Solutions by 1.0% during the fourth quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock valued at $1,378,000 after acquiring an additional 1,150 shares in the last quarter. Treasurer of the State of North Carolina raised its position in CCC Intelligent Solutions by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 198,807 shares of the company’s stock valued at $2,332,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Townsquare Capital LLC lifted its holdings in CCC Intelligent Solutions by 6.5% in the fourth quarter. Townsquare Capital LLC now owns 24,338 shares of the company’s stock valued at $285,000 after acquiring an additional 1,475 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCCS. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their target price for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. Morgan Stanley lowered their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler dropped their target price on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Finally, Barclays reduced their price target on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.19.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the sale, the director now owns 54,047 shares of the company’s stock, valued at $485,342.06. The trade was a 38.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,087,456 shares of company stock worth $434,240,401. 6.03% of the stock is owned by corporate insiders.

CCC Intelligent Solutions Stock Down 0.2%

CCCS stock opened at $9.03 on Thursday. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $8.95 and a 200-day simple moving average of $10.54. The stock has a market capitalization of $5.95 billion, a P/E ratio of 451.73 and a beta of 0.76.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $251.57 million during the quarter, compared to analyst estimates of $249.87 million. During the same period in the previous year, the business earned $0.09 EPS. CCC Intelligent Solutions’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

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.