Wellington Management Group LLP Raises Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wellington Management Group LLP grew its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 92.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,279,252 shares of the company's stock after buying an additional 1,578,942 shares during the quarter. Wellington Management Group LLP owned 0.52% of CCC Intelligent Solutions worth $36,236,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in CCC Intelligent Solutions by 32.2% during the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company's stock worth $82,284,000 after buying an additional 1,815,816 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of CCC Intelligent Solutions by 12.5% during the third quarter. Stifel Financial Corp now owns 162,076 shares of the company's stock worth $1,791,000 after buying an additional 18,062 shares during the period. HighTower Advisors LLC lifted its position in CCC Intelligent Solutions by 1,355.0% in the third quarter. HighTower Advisors LLC now owns 602,797 shares of the company's stock valued at $6,662,000 after purchasing an additional 561,367 shares during the period. Wasatch Advisors LP lifted its position in CCC Intelligent Solutions by 49.1% in 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 during the period. Finally, Consolidated Press International Holdings Ltd. acquired a new stake in shares of CCC Intelligent Solutions during the 3rd quarter valued at approximately $1,082,000. Institutional investors and hedge funds own 95.79% of the company's stock.

CCC Intelligent Solutions Trading Down 1.1 %

CCCS stock traded down $0.13 during midday trading on Friday, hitting $12.11. 999,273 shares of the company's stock were exchanged, compared to its average volume of 3,384,745. The stock's fifty day moving average price is $11.57 and its 200-day moving average price is $11.18. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.88. The company has a market cap of $7.57 billion, a PE ratio of 82.27, a price-to-earnings-growth ratio of 6.80 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released 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. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. CCC Intelligent Solutions's revenue was up 7.8% on a year-over-year basis. Research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CCCS. JPMorgan Chase & Co. raised their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an "overweight" rating in a research note on Monday. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Bank of America started coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a "buy" rating and a $15.00 price target on the stock. 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 research note on Tuesday, October 29th. Finally, Piper Sandler reissued a "neutral" rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, CCC Intelligent Solutions has an average rating of "Moderate Buy" and an average price target of $13.89.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction 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 sale, the insider now owns 4,798,040 shares of the company's stock, valued at approximately $55,177,460. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 9,916 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The disclosure for this sale can be found here. Insiders have sold a total of 443,153 shares of company stock valued at $5,390,863 in the last ninety days. 6.67% of the stock is currently owned by company insiders.

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.