PNC Financial Services Group Inc. Grows Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

PNC Financial Services Group Inc. grew its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 66.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,818 shares of the company’s stock after buying an additional 14,293 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CCC Intelligent Solutions were worth $408,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers grew its position in CCC Intelligent Solutions by 2.3% during the third quarter. Rhumbline Advisers now owns 210,832 shares of the company’s stock valued at $2,815,000 after acquiring an additional 4,720 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in CCC Intelligent Solutions during the third quarter valued at about $143,000. Envestnet Asset Management Inc. grew its stake in shares of CCC Intelligent Solutions by 378.7% during the third quarter. Envestnet Asset Management Inc. now owns 540,135 shares of the company’s stock valued at $7,211,000 after buying an additional 427,304 shares during the last quarter. FMR LLC increased its holdings in shares of CCC Intelligent Solutions by 20.0% in the third quarter. FMR LLC now owns 797,247 shares of the company’s stock worth $10,643,000 after buying an additional 132,810 shares during the period. Finally, Mariner LLC lifted its stake in shares of CCC Intelligent Solutions by 255.4% in the 3rd quarter. Mariner LLC now owns 47,516 shares of the company’s stock valued at $634,000 after acquiring an additional 34,145 shares during the last quarter. 95.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Brian Herb sold 70,204 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $663,770.88. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Herb sold 70,204 shares of CCC Intelligent Solutions stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $11.83, for a total transaction of $830,513.32. Following the completion of the transaction, the insider now directly 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.

Wall Street Analyst Weigh In

CCCS has been the subject of a number of analyst reports. Piper Sandler increased their price objective on CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 1st. Finally, Evercore ISI raised their target price on CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. 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, CCC Intelligent Solutions has an average rating of “Moderate Buy” and a consensus target price of $13.63.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock opened at $11.11 on Friday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $10.32 and a fifty-two week high of $13.41. The stock’s 50 day simple moving average is $11.31 and its two-hundred day simple moving average is $11.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.53 and a current ratio of 2.53. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of -52.90, a PEG ratio of 5.52 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $227.24 million for the quarter, compared to the consensus estimate of $225.21 million. CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.52%. As a group, analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 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.