Arizona State Retirement System Has $671,000 Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Arizona State Retirement System lifted its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 31.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,938 shares of the company’s stock after purchasing an additional 14,213 shares during the period. Arizona State Retirement System’s holdings in CCC Intelligent Solutions were worth $671,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in CCC Intelligent Solutions by 146.9% during the first quarter. Vanguard Group Inc. now owns 9,519,514 shares of the company’s stock worth $105,095,000 after buying an additional 5,663,827 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of CCC Intelligent Solutions by 306.4% during the 3rd quarter. Brown Advisory Inc. now owns 4,562,530 shares of the company’s stock worth $60,910,000 after acquiring an additional 3,439,776 shares during the last quarter. Capital World Investors bought a new stake in CCC Intelligent Solutions in the 1st quarter valued at $23,681,000. State Street Corp lifted its holdings in CCC Intelligent Solutions by 398.9% during the 2nd quarter. State Street Corp now owns 1,701,564 shares of the company’s stock valued at $15,654,000 after purchasing an additional 1,360,498 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in CCC Intelligent Solutions during the third quarter worth $17,040,000. 95.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCCS shares. Evercore ISI raised their target price on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Citigroup reaffirmed a “buy” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Thursday, February 8th. Barclays lifted their price target 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. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Thursday, February 29th. Finally, Piper Sandler lifted their target price on CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and an average price target of $13.63.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $11.42 on Friday. The stock has a market capitalization of $6.91 billion, a P/E ratio of -54.38 and a beta of 0.62. The stock’s fifty day moving average is $11.73 and its 200 day moving average is $11.55. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.42 and a 52 week high of $13.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.29 and a current ratio of 2.29.

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

Insider Buying and Selling at CCC Intelligent Solutions

In other news, CAO Rodney Christo sold 30,000 shares of CCC Intelligent Solutions stock in a transaction on 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 approximately $176,925. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the completion of the transaction, the director now directly owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Rodney Christo sold 30,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.50, for a total transaction of $375,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at approximately $176,925. The disclosure for this sale can be found here. Insiders sold a total of 59,648,839 shares of company stock worth $681,118,139 over the last three months. Corporate insiders own 6.47% 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.