CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 19.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,792,309 shares of the company’s stock after acquiring an additional 287,270 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of CCC Intelligent Solutions worth $19,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CCCS. Wedmont Private Capital increased its holdings in CCC Intelligent Solutions by 9.7% during the 1st quarter. Wedmont Private Capital now owns 12,266 shares of the company’s stock worth $146,000 after purchasing an additional 1,082 shares during the last quarter. American International Group Inc. grew its position in shares of CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in shares of CCC Intelligent Solutions by 128.4% in the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after buying an additional 1,424 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in CCC Intelligent Solutions by 15.2% in the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock valued at $132,000 after acquiring an additional 1,564 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in CCC Intelligent Solutions by 5.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 32,082 shares of the company’s stock valued at $384,000 after acquiring an additional 1,619 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCCS. Bank of America began coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price on the stock. Barrington Research reaffirmed an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Finally, Jefferies Financial Group lowered their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.75.

CCC Intelligent Solutions Trading Down 0.3 %

Shares of NYSE CCCS opened at $10.95 on Tuesday. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $13.41. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $10.70 and its 200 day simple moving average is $11.20. The company has a market cap of $6.81 billion, a price-to-earnings ratio of -52.14, a price-to-earnings-growth ratio of 6.16 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The company had revenue of $232.60 million during the quarter, compared to the consensus estimate of $230.16 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

Insider Activity

In related news, CAO Rodney Christo sold 4,177 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Rodney Christo sold 4,177 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total value of $42,772.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director International L.P. Advent sold 24,973,795 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $11.30, for a total transaction of $282,203,883.50. Following the transaction, the director now directly owns 3,232,721 shares in the company, valued at approximately $36,529,747.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,268,070 shares of company stock valued at $285,265,043. Insiders own 6.67% of the company’s stock.

About CCC Intelligent Solutions

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.