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

Wellington Management Group LLP increased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 92.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,279,252 shares of the company’s stock after purchasing an additional 1,578,942 shares during the quarter. Wellington Management Group LLP’s holdings in CCC Intelligent Solutions were worth $36,236,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. CWM LLC grew its position in shares of CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after purchasing an additional 2,419 shares during the last quarter. SG Americas Securities LLC purchased a new position in CCC Intelligent Solutions during the second quarter worth $698,000. Wealth Enhancement Advisory Services LLC increased its position in CCC Intelligent Solutions by 0.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 589,633 shares of the company’s stock worth $6,551,000 after buying an additional 5,127 shares in the last quarter. Raymond James & Associates raised its holdings in shares of CCC Intelligent Solutions by 70.7% in the second quarter. Raymond James & Associates now owns 1,344,024 shares of the company’s stock worth $14,932,000 after acquiring an additional 556,616 shares during the last quarter. Finally, Investment House LLC purchased a new stake in shares of CCC Intelligent Solutions in the second quarter valued at $2,797,000. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Down 0.8 %

Shares of CCCS opened at $12.24 on Friday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The company’s fifty day moving average is $11.57 and its two-hundred day moving average is $11.18. The firm has a market cap of $7.66 billion, a PE ratio of 612.00, a price-to-earnings-growth ratio of 6.98 and a beta of 0.70. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) 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%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

CCCS has been the subject of several analyst reports. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They issued a “buy” rating and a $15.00 target price for the company. Morgan Stanley upgraded shares of 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. Barclays reduced their price objective 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. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.89.

Insiders Place Their Bets

In other news, insider Mary Jo Prigge sold 97,511 shares of the 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 completion of the sale, the insider now owns 97,268 shares in the company, valued at approximately $1,168,188.68. This trade represents a 50.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Githesh Ramamurthy sold 9,348 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 in the company, valued at $55,177,460. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock worth $5,390,863 over the last ninety days. 6.67% of the stock is 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.