State of New Jersey Common Pension Fund D Trims Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

State of New Jersey Common Pension Fund D lowered its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 216,667 shares of the company’s stock after selling 17,703 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CCC Intelligent Solutions were worth $2,468,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Alaska Permanent Fund Corp grew its holdings in shares of CCC Intelligent Solutions by 67.8% in the fourth quarter. Alaska Permanent Fund Corp now owns 683,445 shares of the company’s stock valued at $7,784,000 after purchasing an additional 276,252 shares during the period. Parkside Financial Bank & Trust acquired a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $99,000. New York State Common Retirement Fund increased its holdings in shares of CCC Intelligent Solutions by 27.9% during the 4th quarter. New York State Common Retirement Fund now owns 1,206,588 shares of the company’s stock worth $13,743,000 after buying an additional 262,991 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at approximately $278,000. Finally, Wealth Alliance lifted its holdings in CCC Intelligent Solutions by 22.9% in the fourth quarter. Wealth Alliance now owns 14,795 shares of the company’s stock valued at $169,000 after acquiring an additional 2,759 shares during the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CCCS. Barclays lifted their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Evercore ISI lifted their price target on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Piper Sandler upped their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Citigroup restated a “buy” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.63.

Insider Buying and Selling

In other news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the completion of the transaction, the director now directly owns 5,164,022 shares of the company’s stock, valued at approximately $58,508,369.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the transaction, the director now owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Githesh Ramamurthy sold 57,619 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total transaction of $663,770.88. Following the completion of the sale, the insider now directly owns 6,463,840 shares of the company’s stock, valued at $74,463,436.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,706,755 shares of company stock worth $681,785,331. Corporate insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Trading Down 6.0 %

CCCS opened at $10.55 on Thursday. The business has a fifty day moving average price of $11.75 and a 200 day moving average price of $11.46. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.29 and a quick ratio of 2.29. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -50.24 and a beta of 0.62. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.42 and a 12 month high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. The firm had revenue of $228.60 million during the quarter, compared to analyst estimates of $222.80 million. Sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.18 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.