Granahan Investment Management LLC Sells 90,806 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Granahan Investment Management LLC trimmed its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 14.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 517,180 shares of the company’s stock after selling 90,806 shares during the period. Granahan Investment Management LLC’s holdings in CCC Intelligent Solutions were worth $6,067,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at $25,000. UMB Bank n.a. acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at about $28,000. TD Private Client Wealth LLC bought a new stake in CCC Intelligent Solutions during the fourth quarter worth about $31,000. Quarry LP bought a new stake in CCC Intelligent Solutions during the fourth quarter worth about $36,000. Finally, GAMMA Investing LLC grew its stake in CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after buying an additional 2,479 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

CCCS has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Piper Sandler decreased their price target on CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday. Barclays dropped their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley decreased their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.19.

CCC Intelligent Solutions Trading Up 0.7 %

Shares of CCCS stock opened at $9.00 on Friday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $5.93 billion, a P/E ratio of 450.23 and a beta of 0.76. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The stock’s fifty day simple moving average is $8.97 and its 200 day simple moving average is $10.58.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Eileen Schloss sold 27,478 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total value of $236,310.80. Following the completion of the sale, the director now directly owns 26,569 shares in the company, valued at $228,493.40. This represents a 50.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the transaction, the director now directly owns 2,258,343 shares in the company, valued at $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,087,456 shares of company stock valued at $434,240,401. Insiders own 6.03% of the company’s stock.

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.