Wasatch Advisors LP Sells 12,683,439 Shares of CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Wasatch Advisors LP decreased its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) by 44.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,548,321 shares of the company’s stock after selling 12,683,439 shares during the period. Wasatch Advisors LP’s holdings in CCC Intelligent Solutions Holdings Inc. Common Stock were worth $80,229,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 3.2% during the first quarter. Principal Financial Group Inc. now owns 37,848,476 shares of the company’s stock worth $227,091,000 after purchasing an additional 1,189,466 shares during the period. Bank of America Corp DE raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 2.4% in the first quarter. Bank of America Corp DE now owns 14,004,344 shares of the company’s stock valued at $84,026,000 after purchasing an additional 324,678 shares during the period. Van Berkom & Associates Inc. raised its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the first quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company’s stock valued at $81,091,000 after purchasing an additional 1,814,248 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 11,043,781 shares of the company’s stock worth $66,254,000 after buying an additional 695,892 shares during the last quarter. Finally, Alfreton Capital LLP lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% in the first quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company’s stock worth $64,668,000 after buying an additional 1,978,074 shares during the last quarter. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

Shares of CCC opened at $6.87 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The company’s 50-day moving average is $5.49. CCC Intelligent Solutions Holdings Inc. Common Stock has a 52 week low of $4.08 and a 52 week high of $10.14. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 85.89 and a beta of 0.50.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 7.18% and a net margin of 3.81%.The firm had revenue of $285.93 million during the quarter. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current year.

Analysts Set New Price Targets

CCC has been the subject of several recent analyst reports. Citigroup upped their price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Jefferies Financial Group set a $7.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, July 31st. Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CCC Intelligent Solutions Holdings Inc. Common Stock currently has a consensus rating of “Hold” and an average price target of $9.12.

About CCC Intelligent Solutions Holdings Inc. Common Stock

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company’s SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.