TimesSquare Capital Management LLC Makes New Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

TimesSquare Capital Management LLC purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 223,000 shares of the company’s stock, valued at approximately $2,540,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in CCC Intelligent Solutions by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 17,765,795 shares of the company’s stock worth $237,173,000 after purchasing an additional 1,188,369 shares during the period. Invesco Ltd. grew its position in CCC Intelligent Solutions by 19.2% during the third quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock valued at $104,437,000 after buying an additional 1,260,457 shares during the period. Riverbridge Partners LLC raised its position in CCC Intelligent Solutions by 41.6% in the fourth quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock worth $77,865,000 after acquiring an additional 2,009,175 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of CCC Intelligent Solutions by 31.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,451,668 shares of the company’s stock worth $73,484,000 after purchasing an additional 1,528,766 shares in the last quarter. Finally, Summit Creek Advisors LLC raised its stake in shares of CCC Intelligent Solutions by 3.4% in the third quarter. Summit Creek Advisors LLC now owns 2,465,962 shares of the company’s stock worth $32,921,000 after buying an additional 81,084 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions 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 transaction, the director now directly owns 5,164,022 shares of the company’s stock, valued at $58,508,369.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions stock in a transaction that occurred 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 sale, the director now directly owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 30,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.50, for a total transaction of $375,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at approximately $176,925. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,706,755 shares of company stock worth $681,785,331. 6.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

CCC Intelligent Solutions Trading Down 0.4 %

CCCS stock traded down $0.04 during trading on Friday, hitting $10.63. The company had a trading volume of 123,842 shares, compared to its average volume of 3,128,799. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $6.53 billion, a P/E ratio of -50.81 and a beta of 0.63. The company has a 50 day simple moving average of $11.65 and a 200-day simple moving average of $11.40. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.10 and a 52-week high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $228.60 million for the quarter, compared to the consensus estimate of $222.80 million. CCC Intelligent Solutions had a positive return on equity of 4.52% and a negative net margin of 10.85%. As a group, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 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.