Wellington Management Group LLP Makes New $14.16 Million Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wellington Management Group LLP purchased a new position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,243,482 shares of the company’s stock, valued at approximately $14,163,000. Wellington Management Group LLP owned approximately 0.21% of CCC Intelligent Solutions at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCCS. Park Place Capital Corp lifted its holdings in shares of CCC Intelligent Solutions by 65.9% in the 4th quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock worth $48,000 after acquiring an additional 1,659 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $99,000. Coldstream Capital Management Inc. bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $119,000. Aigen Investment Management LP bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $139,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of CCC Intelligent Solutions in the 3rd quarter worth approximately $143,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of 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 reissued an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, May 1st. Evercore ISI increased their price target on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Finally, Barclays increased their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.63.

CCC Intelligent Solutions Trading Up 0.2 %

NYSE:CCCS opened at $11.50 on Thursday. The company has a 50-day moving average price of $11.32 and a 200-day moving average price of $11.40. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $10.32 and a 12 month high of $13.41. 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 $7.15 billion, a price-to-earnings ratio of -54.76, a P/E/G ratio of 5.51 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 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 $227.24 million during the quarter, compared to analysts’ expectations of $225.21 million. Equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling

In related news, insider Brian Herb sold 70,204 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $11.83, for a total value of $830,513.32. Following the completion of the transaction, the insider now directly owns 217,872 shares in the company, valued at approximately $2,577,425.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Githesh Ramamurthy sold 57,619 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total value of $663,770.88. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Also, insider Brian Herb sold 70,204 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $11.83, for a total transaction of $830,513.32. Following the sale, the insider now owns 217,872 shares of the company’s stock, valued at $2,577,425.76. The disclosure for this sale can be found here. Insiders sold a total of 59,553,654 shares of company stock worth $683,603,211 in the last three months. 6.67% of the stock is owned by corporate insiders.

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.