Raymond James & Associates Grows Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Raymond James & Associates lifted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 16.0% in the third quarter, HoldingsChannel reports. The firm owned 1,559,611 shares of the company’s stock after acquiring an additional 215,587 shares during the quarter. Raymond James & Associates’ holdings in CCC Intelligent Solutions were worth $17,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in CCC Intelligent Solutions by 17.7% in the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after buying an additional 4,225,920 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of CCC Intelligent Solutions by 37.8% during the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock worth $280,530,000 after purchasing an additional 6,921,161 shares in the last quarter. Dragoneer Investment Group LLC increased its position in shares of CCC Intelligent Solutions by 31.5% during the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after purchasing an additional 3,809,200 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of CCC Intelligent Solutions by 7.4% during the first quarter. Janus Henderson Group PLC now owns 12,469,424 shares of the company’s stock worth $149,133,000 after purchasing an additional 857,110 shares in the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions during the second quarter worth about $132,917,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCCS has been the topic of a number of research analyst reports. Bank of America initiated coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price on the stock. Barrington Research reiterated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group cut their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.75.

CCC Intelligent Solutions Stock Performance

NYSE CCCS opened at $11.00 on Friday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.40. 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 price is $10.84 and its 200 day moving average price is $11.04. The firm has a market cap of $6.84 billion, a P/E ratio of -52.38, a P/E/G ratio of 6.26 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. The firm had revenue of $232.60 million for the quarter, compared to analyst estimates of $230.16 million. During the same quarter last year, the company posted $0.02 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $42,772.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Page Goodson sold 45,560 shares of CCC Intelligent Solutions stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total value of $459,244.80. Following the completion of the sale, the insider now directly owns 87,892 shares in the company, valued at $885,951.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 238,387 shares of company stock valued at $2,414,009. 6.67% of the stock is owned by corporate insiders.

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.