Riverbridge Partners LLC Sells 510,680 Shares of CCC Intelligent Solutions Holdings Inc. $CCCS

Riverbridge Partners LLC decreased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 7.6% during the third quarter, HoldingsChannel reports. The fund owned 6,190,816 shares of the company’s stock after selling 510,680 shares during the quarter. Riverbridge Partners LLC’s holdings in CCC Intelligent Solutions were worth $56,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of CCC Intelligent Solutions in the second quarter valued at $25,000. Osaic Holdings Inc. grew its holdings in CCC Intelligent Solutions by 293.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,083 shares of the company’s stock valued at $29,000 after buying an additional 2,300 shares in the last quarter. Park Place Capital Corp increased its position in shares of CCC Intelligent Solutions by 47.6% during the second quarter. Park Place Capital Corp now owns 3,806 shares of the company’s stock valued at $36,000 after buying an additional 1,228 shares during the period. AlphaQuest LLC purchased a new stake in shares of CCC Intelligent Solutions in the first quarter worth about $47,000. Finally, SVB Wealth LLC purchased a new stake in shares of CCC Intelligent Solutions in the first quarter worth about $60,000. 95.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler decreased their target price on shares of CCC Intelligent Solutions from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Friday, October 31st. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, October 27th. Barclays dropped their price objective on CCC Intelligent Solutions from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Stifel Nicolaus decreased their target price on CCC Intelligent Solutions from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Jefferies Financial Group set a $11.00 price target on CCC Intelligent Solutions in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, CCC Intelligent Solutions has an average rating of “Hold” and an average target price of $11.38.

CCC Intelligent Solutions Stock Down 1.0%

CCCS opened at $7.90 on Monday. The business’s fifty day simple moving average is $7.97 and its 200 day simple moving average is $8.99. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. 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 stock has a market cap of $5.14 billion, a PE ratio of 395.20 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $267.12 million during the quarter, compared to analysts’ expectations of $265.01 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%.The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. As a group, research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

About CCC Intelligent Solutions

CCC Intelligent Solutions Inc (NYSE: CCCS) is a leading provider of digital solutions and data analytics to the property and casualty insurance, automotive repair, and connected vehicle markets. The company’s core offerings are designed to improve the efficiency, accuracy, and transparency of collision repair and claims processes. By leveraging advanced machine learning, computer vision, and telematics, CCC enables insurers, repair shops, and vehicle owners to streamline workflows, enhance decision-making, and reduce cycle times.

The company’s flagship platform, CCC ONE®, integrates estimating, repair management, parts sourcing, supplier collaboration, and digital transaction workflows into a single, cloud-based environment.