Verition Fund Management LLC Buys Shares of 86,378 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Verition Fund Management LLC acquired a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 86,378 shares of the company's stock, valued at approximately $954,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CCCS. Dragoneer Investment Group LLC increased its holdings in shares of CCC Intelligent Solutions by 31.5% in the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company's stock valued at $176,704,000 after purchasing an additional 3,809,200 shares during the last quarter. Adero Partners LLC raised its holdings in CCC Intelligent Solutions by 118.5% in the 3rd 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 during the period. Element Capital Management LLC bought a new position in CCC Intelligent Solutions in the 2nd quarter valued at about $7,941,000. Teca Partners LP lifted its position in CCC Intelligent Solutions by 21.8% during the second quarter. Teca Partners LP now owns 2,361,183 shares of the company's stock worth $26,233,000 after acquiring an additional 422,768 shares during the last quarter. Finally, Torray Investment Partners LLC bought a new stake in shares of CCC Intelligent Solutions during the second quarter worth approximately $1,229,000. 95.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCCS. Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday. Bank of America began coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a "buy" rating and a $15.00 price objective for the company. Barclays decreased their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Finally, Barrington Research reiterated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research 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 currently has an average rating of "Moderate Buy" and a consensus price target of $13.89.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, 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 completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rodney Christo sold 75,000 shares of CCC Intelligent Solutions stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock valued at $5,390,863 in the last quarter. Insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Price Performance

CCCS traded down $0.24 during trading on Monday, hitting $12.43. 2,679,869 shares of the stock traded hands, compared to its average volume of 3,397,367. The business has a 50 day moving average price of $11.47 and a 200 day moving average price of $11.16. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 621.81, a PEG ratio of 6.98 and a beta of 0.70. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

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

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.