Park Avenue Securities LLC Acquires 5,413 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Park Avenue Securities LLC lifted its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 18.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,456 shares of the company’s stock after buying an additional 5,413 shares during the quarter. Park Avenue Securities LLC’s holdings in CCC Intelligent Solutions were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in shares of CCC Intelligent Solutions by 2.3% during the third quarter. Rhumbline Advisers now owns 210,832 shares of the company’s stock worth $2,815,000 after purchasing an additional 4,720 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in CCC Intelligent Solutions by 49.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 21,525 shares of the company’s stock valued at $287,000 after buying an additional 7,103 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in CCC Intelligent Solutions in the 3rd quarter valued at $143,000. Envestnet Asset Management Inc. increased its stake in shares of CCC Intelligent Solutions by 378.7% in the 3rd 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 period. Finally, FMR LLC raised its position in shares of CCC Intelligent Solutions by 20.0% during the third quarter. FMR LLC now owns 797,247 shares of the company’s stock worth $10,643,000 after acquiring an additional 132,810 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCCS. Evercore ISI raised their price target on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $11.11 on Friday. The stock has a market cap of $6.91 billion, a P/E ratio of -52.90, a price-to-earnings-growth ratio of 5.52 and a beta of 0.62. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $10.32 and a 1 year high of $13.41. The stock’s 50-day moving average price is $11.31 and its two-hundred day moving average price is $11.40. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.43.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data 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). CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. The firm had revenue of $227.24 million for the quarter, compared to the consensus estimate of $225.21 million. On average, equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In related news, insider Brian Herb sold 70,204 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was 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 approximately $2,577,425.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brian Herb sold 70,204 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 217,872 shares of the company’s stock, valued at approximately $2,577,425.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Githesh Ramamurthy sold 57,619 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 59,553,654 shares of company stock valued at $683,603,211 in the last quarter. Company insiders own 6.67% of the company’s stock.

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.