Riverbridge Partners LLC Sells 437,574 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Riverbridge Partners LLC decreased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,900,151 shares of the company's stock after selling 437,574 shares during the period. Riverbridge Partners LLC owned approximately 0.94% of CCC Intelligent Solutions worth $69,209,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ghisallo Capital Management LLC bought a new position in shares of CCC Intelligent Solutions in the second quarter valued at approximately $132,917,000. Wasatch Advisors LP lifted its position in shares of CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company's stock valued at $158,358,000 after purchasing an additional 4,716,587 shares in the last quarter. Dragoneer Investment Group LLC lifted its position in shares of CCC Intelligent Solutions by 31.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company's stock worth $176,704,000 after buying an additional 3,809,200 shares in the last quarter. Adero Partners LLC grew its holdings in shares of CCC Intelligent Solutions by 118.5% in the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company's stock valued at $63,879,000 after acquiring an additional 3,135,650 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of CCC Intelligent Solutions by 35.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company's stock valued at $95,571,000 after acquiring an additional 2,272,336 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

CCC Intelligent Solutions Price Performance

NYSE:CCCS traded down $0.28 during trading hours on Thursday, hitting $11.43. 2,019,731 shares of the company's stock traded hands, compared to its average volume of 3,753,585. The firm has a market cap of $7.50 billion, a P/E ratio of 571.54 and a beta of 0.72. 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 business's fifty day simple moving average is $11.92 and its two-hundred day simple moving average is $11.22. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. On average, research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

CCC Intelligent Solutions declared that its board has initiated a share buyback program on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 9,916 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $12.67, for a total value of $125,635.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the transaction, the insider now directly owns 4,798,040 shares of the company's stock, valued at $55,177,460. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 over the last ninety days. Insiders own 6.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CCCS shares. Barclays cut their price target on shares of 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. Piper Sandler restated a "neutral" rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Barrington Research reaffirmed an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, CCC Intelligent Solutions currently has an average rating of "Moderate Buy" and an average price target of $13.89.

CCC Intelligent Solutions 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.