Westfield Capital Management Co. LP Increases Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Westfield Capital Management Co. LP boosted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,299,865 shares of the company’s stock after purchasing an additional 176,251 shares during the period. Westfield Capital Management Co. LP owned about 0.69% of CCC Intelligent Solutions worth $47,514,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Ghisallo Capital Management LLC purchased a new position in shares of CCC Intelligent Solutions in the second quarter worth approximately $132,917,000. Principal Financial Group Inc. boosted its stake in shares of CCC Intelligent Solutions by 37.8% during the 2nd quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock worth $280,530,000 after acquiring an additional 6,921,161 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of CCC Intelligent Solutions during the 2nd quarter valued at $70,844,000. Van Berkom & Associates Inc. purchased a new stake in shares of CCC Intelligent Solutions in the 2nd quarter worth $61,605,000. Finally, Vanguard Group Inc. increased its stake in shares of CCC Intelligent Solutions by 17.7% in the 1st quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock worth $335,299,000 after purchasing an additional 4,225,920 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS opened at $12.47 on Monday. The firm’s fifty day moving average is $11.10 and its two-hundred day moving average is $11.04. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.79 and a 52-week high of $12.68. The company has a market cap of $7.80 billion, a P/E ratio of 623.50, a P/E/G ratio of 7.08 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS) last posted its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity

In related news, insider Mary Jo Prigge sold 97,511 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $12.01, for a total value of $1,171,107.11. Following the completion of the transaction, the insider now owns 97,268 shares of the company’s stock, valued at approximately $1,168,188.68. This trade represents a 50.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rodney Christo sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $12.01, for a total value of $900,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,153 shares of company stock worth $3,195,485. 6.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CCCS has been the subject of a number of analyst reports. Barclays reduced their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Jefferies Financial Group reduced their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Bank of America started coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target on the stock. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average target price of $13.78.

About CCC Intelligent Solutions

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.