Adero Partners LLC Sells 1,962,542 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Adero Partners LLC lowered its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 39.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,022,458 shares of the company’s stock after selling 1,962,542 shares during the quarter. CCC Intelligent Solutions accounts for 2.9% of Adero Partners LLC’s investment portfolio, making the stock its 10th biggest position. Adero Partners LLC owned 0.50% of CCC Intelligent Solutions worth $34,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp increased its position in shares of CCC Intelligent Solutions by 65.9% during the fourth quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock worth $48,000 after acquiring an additional 1,659 shares during the last quarter. Covestor Ltd grew its holdings in shares of CCC Intelligent Solutions by 781.7% during the third quarter. Covestor Ltd now owns 6,895 shares of the company’s stock valued at $92,000 after purchasing an additional 6,113 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $99,000. Coldstream Capital Management Inc. bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $119,000. Finally, Aigen Investment Management LP bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $139,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CCCS. Barclays boosted their price objective 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 upped their price target on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Citigroup reaffirmed a “buy” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a report on Thursday, February 8th. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, May 1st. Finally, Piper Sandler increased their target price on CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $13.63.

CCC Intelligent Solutions Stock Down 0.9 %

NYSE CCCS traded down $0.10 during trading on Friday, hitting $11.18. 16,472,332 shares of the company traded hands, compared to its average volume of 4,116,264. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $10.32 and a 12 month high of $13.41. The business has a fifty day simple moving average of $11.42 and a 200 day simple moving average of $11.41. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.87 billion, a P/E ratio of -53.24, a PEG ratio of 5.41 and a beta of 0.63.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Tuesday, April 30th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.52%. The company had revenue of $227.24 million for the quarter, compared to the consensus estimate of $225.21 million. As a group, sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

Insider Activity

In other news, insider Brian Herb sold 23,521 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $11.81, for a total value of $277,783.01. Following the sale, the insider now directly owns 288,076 shares of the company’s stock, valued at $3,402,177.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Githesh Ramamurthy sold 1,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $11.86, for a total transaction of $11,860,000.00. Following the sale, the insider now directly owns 6,463,840 shares of the company’s stock, valued at $76,661,142.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian Herb sold 23,521 shares of CCC Intelligent Solutions stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $11.81, for a total value of $277,783.01. Following the sale, the insider now directly owns 288,076 shares in the company, valued at $3,402,177.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,806,755 shares of company stock valued at $694,715,331. 6.67% of the stock is owned by 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.