335,285 Shares in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 335,285 shares of the company’s stock, valued at approximately $3,818,000. Picton Mahoney Asset Management owned approximately 0.06% of CCC Intelligent Solutions at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Riverbridge Partners LLC lifted its holdings in shares of 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 purchasing an additional 2,009,175 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of CCC Intelligent Solutions by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,451,668 shares of the company’s stock worth $73,484,000 after purchasing an additional 1,528,766 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of CCC Intelligent Solutions during the 3rd quarter worth approximately $17,040,000. Invesco Ltd. increased its position in shares of CCC Intelligent Solutions by 19.2% during the 3rd quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock worth $104,437,000 after purchasing an additional 1,260,457 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of CCC Intelligent Solutions by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,765,795 shares of the company’s stock worth $237,173,000 after acquiring an additional 1,188,369 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CCC Intelligent Solutions

In related news, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions stock in a transaction on Monday, March 4th. The stock was sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the completion of the sale, the director now owns 5,164,022 shares of the company’s stock, valued at $58,508,369.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the completion of the sale, the director now owns 5,164,022 shares of the company’s stock, valued at $58,508,369.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian Herb sold 23,521 shares of CCC Intelligent Solutions stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $11.81, for a total value of $277,783.01. Following the sale, the insider now directly owns 288,076 shares of the company’s stock, valued at approximately $3,402,177.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,706,755 shares of company stock valued at $681,785,331. Company insiders own 6.67% of the company’s stock.

Wall Street Analyst Weigh In

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

CCC Intelligent Solutions Stock Performance

Shares of CCCS traded up $0.04 on Wednesday, reaching $10.90. 2,202,015 shares of the company’s stock traded hands, compared to its average volume of 3,172,482. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.43. The stock has a market cap of $6.70 billion, a PE ratio of -51.76 and a beta of 0.63. The stock’s 50 day simple moving average is $11.69 and its two-hundred day simple moving average is $11.40. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.00 and a 52-week high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. The company had revenue of $228.60 million during the quarter, compared to the consensus estimate of $222.80 million. On average, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

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.