Westfield Capital Management Co. LP Purchases 176,251 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Westfield Capital Management Co. LP boosted its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,299,865 shares of the company's stock after purchasing an additional 176,251 shares during the period. Westfield Capital Management Co. LP owned about 0.69% of CCC Intelligent Solutions worth $47,514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dragoneer Investment Group LLC raised its holdings in CCC Intelligent Solutions by 31.5% during the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company's stock worth $176,704,000 after acquiring an additional 3,809,200 shares in the last quarter. Comerica Bank raised its stake in shares of CCC Intelligent Solutions by 103.1% during the 1st quarter. Comerica Bank now owns 774,261 shares of the company's stock worth $9,260,000 after purchasing an additional 392,966 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of CCC Intelligent Solutions by 200.1% in 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 last quarter. Adero Partners LLC grew its stake 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 buying an additional 3,135,650 shares in the last quarter. Finally, Element Capital Management LLC acquired a new position in CCC Intelligent Solutions during the second quarter worth $7,941,000. Institutional investors and hedge funds own 95.79% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCCS. JPMorgan Chase & Co. dropped their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Bank of America assumed coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a "buy" rating and a $15.00 price objective on the stock. Barrington Research reiterated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, Jefferies Financial Group decreased their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.78.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 75,000 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $12.01, for a total value of $900,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mary Jo Prigge sold 97,511 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $12.01, for a total value of $1,171,107.11. Following the transaction, the insider now directly owns 97,268 shares of the company's stock, valued at approximately $1,168,188.68. The trade was a 50.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 268,153 shares of company stock valued at $3,195,485 over the last quarter. 6.67% of the stock is owned by corporate insiders.

CCC Intelligent Solutions Stock Performance

CCCS stock traded up $0.27 during trading hours on Monday, hitting $12.74. 3,802,116 shares of the stock were exchanged, compared to its average volume of 3,429,346. The company has a 50-day simple moving average of $11.14 and a two-hundred day simple moving average of $11.06. The firm has a market capitalization of $7.97 billion, a P/E ratio of 637.32, a P/E/G ratio of 6.87 and a beta of 0.63. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $9.79 and a 12 month high of $12.83. 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 (NYSE:CCCS - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $238.48 million during the quarter, compared to analysts' expectations of $237.41 million. During the same quarter in the previous year, the company earned $0.03 EPS. The business's revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 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.