Cramer Rosenthal Mcglynn LLC Acquires 87,018 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Cramer Rosenthal Mcglynn LLC raised its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,518,315 shares of the company's stock after purchasing an additional 87,018 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned approximately 0.23% of CCC Intelligent Solutions worth $17,810,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CCCS. Baker Tilly Wealth Management LLC lifted its stake in CCC Intelligent Solutions by 6.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company's stock valued at $169,000 after buying an additional 888 shares during the period. Central Pacific Bank Trust Division lifted its position in shares of CCC Intelligent Solutions by 6.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company's stock valued at $197,000 after acquiring an additional 960 shares during the period. CIBC Asset Management Inc boosted its stake in CCC Intelligent Solutions by 5.9% during the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company's stock worth $223,000 after acquiring an additional 1,054 shares in the last quarter. Berry Wealth Group LP increased its stake in CCC Intelligent Solutions by 5.8% in the fourth quarter. Berry Wealth Group LP now owns 20,224 shares of the company's stock valued at $237,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of CCC Intelligent Solutions by 1.0% in the 4th quarter. Arizona State Retirement System now owns 117,507 shares of the company's stock valued at $1,378,000 after buying an additional 1,150 shares during the period. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Stock Performance

CCCS stock traded up $0.18 during midday trading on Wednesday, hitting $8.79. The company's stock had a trading volume of 1,885,424 shares, compared to its average volume of 4,651,187. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 439.72 and a beta of 0.77. The stock's 50-day moving average price is $9.33 and its 200 day moving average price is $10.75. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCCS. Barrington Research reissued an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Morgan Stanley dropped their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Barclays dropped their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Piper Sandler restated a "neutral" rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.57.

Insider Activity at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total value of $204,785.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the transaction, the director now directly owns 26,569 shares of the company's stock, valued at approximately $228,493.40. This trade represents a 50.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,087,456 shares of company stock worth $434,240,401. 6.67% of the stock is owned by company insiders.

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.