CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 61.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,800 shares of the company’s stock after selling 619,300 shares during the period. Renaissance Technologies LLC owned 0.06% of CCC Intelligent Solutions worth $4,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in CCC Intelligent Solutions by 65.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,632,968 shares of the company’s stock worth $51,482,000 after acquiring an additional 1,831,135 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in CCC Intelligent Solutions in the 2nd quarter worth approximately $70,844,000. Element Capital Management LLC acquired a new position in shares of CCC Intelligent Solutions during the 2nd quarter worth approximately $7,941,000. Envestnet Asset Management Inc. boosted its holdings in shares of CCC Intelligent Solutions by 19.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,792,309 shares of the company’s stock worth $19,913,000 after purchasing an additional 287,270 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of CCC Intelligent Solutions by 59.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 496,935 shares of the company’s stock valued at $5,521,000 after purchasing an additional 185,122 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director International L.P. Advent sold 24,973,795 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $11.30, for a total value of $282,203,883.50. Following the sale, the director now owns 3,232,721 shares in the company, valued at approximately $36,529,747.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director International L.P. Advent sold 24,973,795 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 3,232,721 shares of the company’s stock, valued at approximately $36,529,747.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael John Silva sold 29,022 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the transaction, the insider now directly owns 30,172 shares of the company’s stock, valued at approximately $324,349. The disclosure for this sale can be found here. Insiders have sold a total of 25,212,582 shares of company stock valued at $284,622,492 over the last quarter. 6.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CCCS shares. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, July 31st. Jefferies Financial Group reduced their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Bank of America began coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average price target of $13.75.

CCC Intelligent Solutions Stock Up 0.9 %

Shares of NYSE:CCCS opened at $11.13 on Friday. The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of -53.00, a PEG ratio of 6.35 and a beta of 0.62. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $13.41. The business has a 50-day moving average price of $10.68 and a 200 day moving average price of $11.17. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $230.16 million. During the same period last year, the business earned $0.02 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current 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.