Invesco Ltd. Sells 51,145 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Invesco Ltd. cut its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 381,959 shares of the company's stock after selling 51,145 shares during the quarter. Invesco Ltd. owned approximately 0.06% of CCC Intelligent Solutions worth $4,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCCS. Eagle Bay Advisors LLC purchased a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $25,000. UMB Bank n.a. bought a new position in CCC Intelligent Solutions in the fourth quarter worth approximately $28,000. TD Private Client Wealth LLC bought a new stake in CCC Intelligent Solutions during the 4th quarter valued at $31,000. GAMMA Investing LLC increased its holdings in shares of CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock valued at $39,000 after acquiring an additional 2,479 shares during the period. Finally, Financial Management Professionals Inc. bought a new position in shares of CCC Intelligent Solutions in the 4th quarter worth $54,000. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $8.97 on Friday. 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 firm has a market cap of $5.91 billion, a P/E ratio of 448.72 and a beta of 0.77. The business's 50 day moving average price is $9.22 and its 200 day moving average price is $10.71.

Insider Activity

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric Wei sold 42,000,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the completion of the sale, the director now directly owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,087,456 shares of company stock valued at $434,240,401 in the last ninety days. Insiders own 6.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CCCS. Morgan Stanley dropped their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Barclays cut their price objective 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 reissued a "neutral" rating and set a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Finally, Barrington Research reiterated an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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