Pinebridge Investments L.P. Decreases Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Pinebridge Investments L.P. cut its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,559,865 shares of the company's stock after selling 227,838 shares during the period. Pinebridge Investments L.P. owned approximately 0.39% of CCC Intelligent Solutions worth $30,027,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CCCS. Principal Financial Group Inc. boosted its holdings in shares of CCC Intelligent Solutions by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company's stock valued at $292,654,000 after acquiring an additional 1,234,281 shares during the last quarter. Barclays PLC boosted its holdings in CCC Intelligent Solutions by 155.7% in the third quarter. Barclays PLC now owns 109,020 shares of the company's stock worth $1,205,000 after purchasing an additional 66,386 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in CCC Intelligent Solutions in the third quarter worth approximately $136,000. Tidal Investments LLC purchased a new stake in CCC Intelligent Solutions during the 3rd quarter valued at $117,000. Finally, Synovus Financial Corp lifted its holdings in shares of CCC Intelligent Solutions by 1.6% during the 3rd quarter. Synovus Financial Corp now owns 228,404 shares of the company's stock valued at $2,524,000 after buying an additional 3,627 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCCS has been the subject of several research analyst reports. Piper Sandler reaffirmed a "neutral" rating and issued a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barrington Research restated an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Barclays lowered 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 note on Monday, April 14th. Morgan Stanley cut their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CCC Intelligent Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.57.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $23,306,099.76. This trade represents a 94.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Rodney Christo sold 5,846 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total transaction of $53,490.90. The disclosure for this sale can be found here. Insiders sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last three months. Corporate insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Price Performance

NYSE CCCS opened at $8.61 on Wednesday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 430.72 and a beta of 0.77. The company's 50 day moving average is $9.33 and its two-hundred day moving average is $10.75.

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.

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