CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,442,507 shares of the company's stock after selling 855,482 shares during the period. Allspring Global Investments Holdings LLC owned about 1.52% of CCC Intelligent Solutions worth $104,340,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ghisallo Capital Management LLC bought a new stake in CCC Intelligent Solutions during the 2nd quarter valued at $132,917,000. Akre Capital Management LLC bought a new stake in shares of CCC Intelligent Solutions in the first quarter valued at about $83,720,000. Principal Financial Group Inc. lifted its stake in CCC Intelligent Solutions by 37.8% in the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company's stock worth $280,530,000 after acquiring an additional 6,921,161 shares during the period. Massachusetts Financial Services Co. MA bought a new position in CCC Intelligent Solutions during the 2nd quarter worth about $70,844,000. Finally, Vanguard Group Inc. increased its position in CCC Intelligent Solutions by 34.0% during the 4th quarter. Vanguard Group Inc. now owns 23,809,077 shares of the company's stock valued at $271,185,000 after purchasing an additional 6,043,282 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Barrington Research restated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Finally, Bank of America began coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a "buy" rating and a $15.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CCC Intelligent Solutions currently has an average rating of "Moderate Buy" and an average price target of $13.75.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of the business's stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $10.24, for a total transaction of $42,772.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 4,177 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $42,772.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Herb sold 20,887 shares of the firm's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total value of $213,882.88. Following the completion of the transaction, the insider now owns 217,872 shares of the company's stock, valued at approximately $2,231,009.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 238,387 shares of company stock valued at $2,414,009 in the last three months. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Stock Up 1.5 %

NYSE CCCS traded up $0.17 on Monday, hitting $11.33. The stock had a trading volume of 4,366,709 shares, compared to its average volume of 3,464,676. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.79 and a 52-week high of $12.68. The business's fifty day moving average price is $10.77 and its 200 day moving average price is $11.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.79. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of -53.95, a price-to-earnings-growth ratio of 6.26 and a beta of 0.62.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. The firm had revenue of $232.60 million for the quarter, compared to the consensus estimate of $230.16 million. During the same period in the previous year, the business earned $0.02 EPS. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current year.

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.