Mirae Asset Global Investments Co. Ltd. Raises Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Mirae Asset Global Investments Co. Ltd. increased its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 40.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,628 shares of the company’s stock after purchasing an additional 65,649 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CCC Intelligent Solutions were worth $2,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCCS. Bank of New York Mellon Corp boosted its holdings in CCC Intelligent Solutions by 12.3% in the first quarter. Bank of New York Mellon Corp now owns 38,517 shares of the company’s stock worth $425,000 after purchasing an additional 4,232 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CCC Intelligent Solutions by 146.9% during the 1st quarter. Vanguard Group Inc. now owns 9,519,514 shares of the company’s stock worth $105,095,000 after acquiring an additional 5,663,827 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of CCC Intelligent Solutions during the 1st quarter worth $3,146,000. Charles Schwab Investment Management Inc. boosted its stake in shares of CCC Intelligent Solutions by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 306,511 shares of the company’s stock worth $3,384,000 after acquiring an additional 10,591 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of CCC Intelligent Solutions by 277.6% during the 1st quarter. Royal Bank of Canada now owns 7,696 shares of the company’s stock worth $85,000 after acquiring an additional 5,658 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Brian Herb sold 23,521 shares of CCC Intelligent Solutions stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $11.81, for a total value of $277,783.01. Following the sale, the insider now directly owns 288,076 shares in the company, valued at approximately $3,402,177.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other CCC Intelligent Solutions news, Director Lauren Young sold 16,649,197 shares of CCC Intelligent Solutions stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $11.58, for a total value of $192,797,701.26. Following the completion of the transaction, the director now directly owns 4,777,763 shares of the company’s stock, valued at approximately $55,326,495.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Herb sold 23,521 shares of CCC Intelligent Solutions stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $11.81, for a total transaction of $277,783.01. Following the completion of the transaction, the insider now directly owns 288,076 shares of the company’s stock, valued at $3,402,177.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,648,839 shares of company stock worth $681,118,139. Insiders own 6.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CCCS shares. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Thursday, February 29th. Barclays lifted their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Citigroup reiterated a “buy” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Piper Sandler raised their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Evercore ISI raised their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.63.

CCC Intelligent Solutions Price Performance

Shares of CCCS stock opened at $11.42 on Friday. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -54.38 and a beta of 0.62. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.42 and a one year high of $13.41. The company’s fifty day moving average price is $11.73 and its 200-day moving average price is $11.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.29 and a quick ratio of 2.29.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $228.60 million during the quarter, compared to the consensus estimate of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. Sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.18 EPS for the current fiscal year.

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.