State of New Jersey Common Pension Fund D Boosts Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

State of New Jersey Common Pension Fund D lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,835 shares of the company’s stock after purchasing an additional 21,017 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CCC Intelligent Solutions were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American International Group Inc. increased its holdings in CCC Intelligent Solutions by 68.6% in the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after purchasing an additional 1,135 shares during the last quarter. CWM LLC raised its holdings in shares of CCC Intelligent Solutions by 352.6% in the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after buying an additional 2,419 shares during the period. Twin Tree Management LP acquired a new position in CCC Intelligent Solutions during the 1st quarter worth about $53,000. Quarry LP grew its position in CCC Intelligent Solutions by 304.0% in the 2nd quarter. Quarry LP now owns 11,219 shares of the company’s stock valued at $125,000 after acquiring an additional 8,442 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in CCC Intelligent Solutions by 15.2% during the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 9,348 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total transaction of $107,502.00. Following the sale, the insider now owns 4,798,040 shares of the company’s stock, valued at $55,177,460. The trade was a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael John Silva sold 29,022 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the completion of the sale, the insider now directly owns 30,172 shares in the company, valued at $324,349. This trade represents a 49.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,664 shares of company stock worth $550,614 in the last quarter. Company insiders own 6.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CCCS shares. Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Barclays cut their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Bank of America began coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price for the company. Jefferies Financial Group cut 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, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $15.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $13.78.

CCC Intelligent Solutions Trading Down 0.6 %

CCCS opened at $11.77 on Friday. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 588.50, a price-to-earnings-growth ratio of 6.67 and a beta of 0.63. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.68. The business’s 50 day moving average is $10.96 and its two-hundred day moving average is $11.00. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. On average, research analysts predict 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.