Redwood Investment Management LLC Acquires Shares of 126,231 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Redwood Investment Management LLC purchased a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 126,231 shares of the company’s stock, valued at approximately $1,510,000.

Several other hedge funds have also made changes to their positions in CCCS. Wedmont Private Capital boosted its position in shares of CCC Intelligent Solutions by 9.7% during the 1st quarter. Wedmont Private Capital now owns 12,266 shares of the company’s stock worth $146,000 after purchasing an additional 1,082 shares during the period. American International Group Inc. grew its stake in shares of CCC Intelligent Solutions by 68.6% in the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after acquiring an additional 1,135 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of CCC Intelligent Solutions by 128.4% in the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after acquiring an additional 1,424 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of CCC Intelligent Solutions by 5.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 32,082 shares of the company’s stock worth $384,000 after acquiring an additional 1,619 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of CCC Intelligent Solutions by 0.6% during the 1st quarter. Russell Investments Group Ltd. now owns 278,964 shares of the company’s stock worth $3,336,000 after purchasing an additional 1,622 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday. Barrington Research reissued an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.56.

CCC Intelligent Solutions Stock Down 7.0 %

CCCS stock traded down $0.77 during mid-day trading on Wednesday, hitting $10.26. 15,252,581 shares of the company were exchanged, compared to its average volume of 3,765,311. The company has a market capitalization of $6.38 billion, a PE ratio of -48.86 and a beta of 0.62. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $10.05 and a twelve month high of $13.41. The firm has a fifty day simple moving average of $11.32 and a 200 day simple moving average of $11.38.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 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 $232.60 million for the quarter, compared to the consensus estimate of $230.16 million. During the same period last year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 24,541 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.50, for a total transaction of $282,221.50. Following the transaction, the insider now owns 6,463,840 shares of the company’s stock, valued at approximately $74,334,160. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 24,541 shares of CCC Intelligent Solutions stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.50, for a total value of $282,221.50. Following the completion of the sale, the insider now directly owns 6,463,840 shares in the company, valued at $74,334,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director International L.P. Advent sold 41,622,992 shares of CCC Intelligent Solutions stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $11.43, for a total transaction of $475,750,798.56. Following the completion of the sale, the director now owns 3,812,112 shares of the company’s stock, valued at $43,572,440.16. The disclosure for this sale can be found here. Insiders have sold a total of 67,777,216 shares of company stock worth $771,814,055 in the last ninety days. 6.67% of the stock is owned by insiders.

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.