Oppenheimer Asset Management Inc. Boosts Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Oppenheimer Asset Management Inc. boosted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 558,595 shares of the company's stock after buying an additional 61,660 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.09% of CCC Intelligent Solutions worth $6,172,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CCCS. Dragoneer Investment Group LLC grew its stake in CCC Intelligent Solutions by 31.5% in the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company's stock valued at $176,704,000 after acquiring an additional 3,809,200 shares during the period. Comerica Bank grew its holdings in CCC Intelligent Solutions by 103.1% in the first quarter. Comerica Bank now owns 774,261 shares of the company's stock valued at $9,260,000 after purchasing an additional 392,966 shares during the last quarter. Swiss National Bank lifted its position in CCC Intelligent Solutions by 14.5% during the first quarter. Swiss National Bank now owns 475,900 shares of the company's stock worth $5,692,000 after buying an additional 60,400 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of CCC Intelligent Solutions by 200.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 203,543 shares of the company's stock valued at $2,261,000 after buying an additional 135,710 shares during the period. Finally, Element Capital Management LLC acquired a new position in shares of CCC Intelligent Solutions in the 2nd quarter worth approximately $7,941,000. 95.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 8,805 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.50, for a total value of $101,257.50. Following the completion of the sale, the insider now directly owns 4,798,040 shares of the company's stock, valued at approximately $55,177,460. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael John Silva sold 29,022 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total value of $311,986.50. Following the sale, the insider now owns 30,172 shares in the company, valued at $324,349. This trade represents a 49.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,175 shares of company stock valued at $520,746 in the last quarter. 6.67% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Jefferies Financial Group cut their price objective on 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. Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $14.00 to $15.00 in a research note on Wednesday. Barrington Research reiterated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Finally, Barclays decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $13.78.

CCC Intelligent Solutions Stock Down 0.6 %

CCCS stock traded down $0.07 during midday trading on Friday, reaching $11.77. 2,312,804 shares of the company's stock traded hands, compared to its average volume of 3,420,647. 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 company has a market cap of $7.36 billion, a price-to-earnings ratio of 77.47, a P/E/G ratio of 6.67 and a beta of 0.63. The firm's fifty day moving average price is $10.93 and its 200-day moving average price is $10.99. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.68.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal 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.