OVERSEA CHINESE BANKING Corp Ltd Sells 10,200 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 47.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,500 shares of the company’s stock after selling 10,200 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in CCC Intelligent Solutions were worth $131,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Park Place Capital Corp boosted its stake in CCC Intelligent Solutions by 65.9% in the 4th quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock worth $48,000 after purchasing an additional 1,659 shares during the period. Covestor Ltd grew its stake in shares of CCC Intelligent Solutions by 781.7% during the 3rd quarter. Covestor Ltd now owns 6,895 shares of the company’s stock worth $92,000 after acquiring an additional 6,113 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of CCC Intelligent Solutions in the third quarter valued at approximately $143,000. Clear Street Markets LLC bought a new stake in shares of CCC Intelligent Solutions in the third quarter worth $160,000. Finally, Wealth Alliance boosted its holdings in CCC Intelligent Solutions by 9.4% during the third quarter. Wealth Alliance now owns 12,036 shares of the company’s stock worth $161,000 after purchasing an additional 1,033 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCCS has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Barclays upped their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. 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 research note on Wednesday, March 13th. Citigroup reiterated a “buy” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.63.

Insider Activity at CCC Intelligent Solutions

In related news, Director Lauren Young sold 16,649,197 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $11.58, for a total transaction of $192,797,701.26. Following the sale, the director now owns 4,777,763 shares of the company’s stock, valued at $55,326,495.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 30,000 shares of CCC Intelligent Solutions stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.50, for a total value of $375,000.00. Following the transaction, the chief accounting officer now owns 14,154 shares in the company, valued at $176,925. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Young sold 16,649,197 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $11.58, for a total value of $192,797,701.26. Following the transaction, the director now directly owns 4,777,763 shares of the company’s stock, valued at approximately $55,326,495.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,648,839 shares of company stock worth $681,118,139. Corporate insiders own 6.47% of the company’s stock.

CCC Intelligent Solutions Trading Down 0.3 %

Shares of CCC Intelligent Solutions stock opened at $11.40 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.29 and a quick ratio of 2.29. The business has a fifty day simple moving average of $11.74 and a two-hundred day simple moving average of $11.52. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.42 and a 1 year high of $13.41. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of -54.29 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last posted its 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). CCC Intelligent Solutions had a positive return on equity of 5.80% and a negative net margin of 10.67%. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $222.80 million. Research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.18 EPS for the current year.

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.