Alaska Permanent Fund Corp Boosts Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Alaska Permanent Fund Corp increased its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 67.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 683,445 shares of the company’s stock after acquiring an additional 276,252 shares during the period. Alaska Permanent Fund Corp’s holdings in CCC Intelligent Solutions were worth $7,784,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CCCS. Exchange Traded Concepts LLC purchased a new position in CCC Intelligent Solutions in the third quarter worth approximately $2,185,000. Simplicity Solutions LLC acquired a new position in CCC Intelligent Solutions during the third quarter worth $181,000. Harbor Capital Advisors Inc. acquired a new position in CCC Intelligent Solutions during the third quarter worth $366,000. Raymond James & Associates acquired a new position in CCC Intelligent Solutions during the third quarter worth $2,131,000. Finally, Bank of New York Mellon Corp lifted its stake in CCC Intelligent Solutions by 14.3% during the third quarter. Bank of New York Mellon Corp now owns 1,015,298 shares of the company’s stock worth $13,554,000 after purchasing an additional 127,152 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Price Performance

Shares of CCC Intelligent Solutions stock traded down $0.12 during trading on Thursday, hitting $11.41. 61,750 shares of the company were exchanged, compared to its average volume of 3,177,214. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.42 and a fifty-two week high of $13.41. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of -54.90 and a beta of 0.62. The firm has a 50 day moving average price of $11.75 and a 200 day moving average price of $11.51.

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). The firm had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $222.80 million. CCC Intelligent Solutions had a positive return on equity of 5.80% and a negative net margin of 10.67%. On average, equities analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Githesh Ramamurthy sold 57,619 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total transaction of $663,770.88. Following the completion of the sale, the insider now directly owns 6,463,840 shares of the company’s stock, valued at approximately $74,463,436.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the transaction, the director now directly owns 5,164,022 shares of the company’s stock, valued at approximately $58,508,369.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Githesh Ramamurthy sold 57,619 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total transaction of $663,770.88. Following the completion of the transaction, the insider now directly owns 6,463,840 shares of the company’s stock, valued at $74,463,436.80. The disclosure for this sale can be found here. In the last three months, insiders sold 59,706,755 shares of company stock valued at $681,785,331. Company insiders own 6.47% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.