Truist Financial Corp Decreases Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Truist Financial Corp trimmed its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 14.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,277 shares of the company’s stock after selling 63,861 shares during the quarter. Truist Financial Corp owned 0.06% of CCC Intelligent Solutions worth $4,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of CCC Intelligent Solutions by 144,359.9% during the first quarter. Principal Financial Group Inc. now owns 18,329,069 shares of the company’s stock valued at $219,216,000 after buying an additional 18,316,381 shares during the last quarter. Akre Capital Management LLC acquired a new stake in CCC Intelligent Solutions during the 1st quarter worth about $83,720,000. Massachusetts Financial Services Co. MA purchased a new stake in CCC Intelligent Solutions during the 2nd quarter valued at about $70,844,000. Vanguard Group Inc. increased its holdings in shares of CCC Intelligent Solutions by 34.0% in the fourth quarter. Vanguard Group Inc. now owns 23,809,077 shares of the company’s stock valued at $271,185,000 after purchasing an additional 6,043,282 shares during the period. Finally, Van Berkom & Associates Inc. purchased a new position in shares of CCC Intelligent Solutions in the second quarter worth about $61,605,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CCC Intelligent Solutions

In related news, Director Eileen Schloss sold 99,925 shares of CCC Intelligent Solutions stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.89, for a total value of $988,258.25. Following the sale, the director now owns 54,047 shares of the company’s stock, valued at approximately $534,524.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Rodney Christo sold 4,177 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eileen Schloss sold 99,925 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $9.89, for a total value of $988,258.25. Following the transaction, the director now directly owns 54,047 shares of the company’s stock, valued at $534,524.83. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 238,787 shares of company stock valued at $2,418,609 in the last three months. 6.67% of the stock is currently owned by company insiders.

CCC Intelligent Solutions Stock Up 3.1 %

CCCS stock opened at $10.78 on Wednesday. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $13.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 2.79. The firm’s fifty day moving average is $10.63 and its 200 day moving average is $11.11. The firm has a market cap of $6.70 billion, a PE ratio of -51.33, a P/E/G ratio of 6.35 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Tuesday, July 30th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $232.60 million for the quarter, compared to analysts’ expectations of $230.16 million. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. On average, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on CCCS shares. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Jefferies Financial Group decreased their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.75.

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.