Bank of America Corp DE Sells 46,181 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Bank of America Corp DE reduced its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,771,111 shares of the company’s stock after selling 46,181 shares during the period. Bank of America Corp DE owned 1.18% of CCC Intelligent Solutions worth $91,155,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at about $25,000. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at approximately $28,000. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at approximately $31,000. Quarry LP purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at approximately $36,000. Finally, GAMMA Investing LLC raised its position in shares of CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after purchasing an additional 2,479 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

Insider Transactions at CCC Intelligent Solutions

In other news, CAO Rodney Christo sold 5,846 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total transaction of $53,490.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eileen Schloss sold 27,478 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the sale, the director now directly owns 26,569 shares in the company, valued at $228,493.40. The trade was a 50.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,087,456 shares of company stock valued at $434,240,401 in the last 90 days. 6.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Piper Sandler decreased their price objective on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group decreased their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Barclays reduced their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.19.

CCC Intelligent Solutions Stock Performance

CCCS opened at $9.00 on Monday. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $5.93 billion, a PE ratio of 450.23 and a beta of 0.76. The firm has a 50 day moving average of $8.97 and a two-hundred day moving average of $10.57.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $251.57 million for the quarter, compared to analysts’ expectations of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. On average, analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 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.