CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) is Teca Partners LP's 2nd Largest Position

Teca Partners LP reduced its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,111,575 shares of the company's stock after selling 207,448 shares during the quarter. CCC Intelligent Solutions accounts for about 15.8% of Teca Partners LP's investment portfolio, making the stock its 2nd biggest holding. Teca Partners LP owned 0.32% of CCC Intelligent Solutions worth $24,769,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions during the 4th quarter valued at $25,000. UMB Bank n.a. purchased a new position in CCC Intelligent Solutions in the fourth quarter worth about $28,000. TD Private Client Wealth LLC bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at about $31,000. GAMMA Investing LLC increased its position in shares of CCC Intelligent Solutions by 286.9% during 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. Finally, Financial Management Professionals Inc. purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter worth approximately $54,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock traded up $0.12 during midday trading on Tuesday, hitting $8.58. 2,480,149 shares of the company were exchanged, compared to its average volume of 7,354,515. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The firm has a market capitalization of $5.65 billion, a PE ratio of 428.96 and a beta of 0.77. The business has a fifty day simple moving average of $9.38 and a two-hundred day simple moving average of $10.76. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $12.88.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Eileen Schloss sold 27,478 shares of CCC Intelligent Solutions stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the sale, the director now owns 26,569 shares in the company, valued at $228,493.40. This trade represents a 50.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Wei sold 42,000,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the sale, the director now owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. This trade represents a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,087,456 shares of company stock valued at $434,240,401 in the last ninety days. 6.67% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.