Alaska Permanent Fund Corp Increases Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Alaska Permanent Fund Corp increased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 67.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 683,445 shares of the company’s stock after acquiring an additional 276,252 shares during the quarter. Alaska Permanent Fund Corp owned about 0.11% of CCC Intelligent Solutions worth $7,784,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CCCS. Parkside Financial Bank & Trust purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at $99,000. New York State Common Retirement Fund lifted its stake in CCC Intelligent Solutions by 27.9% in the fourth quarter. New York State Common Retirement Fund now owns 1,206,588 shares of the company’s stock worth $13,743,000 after acquiring an additional 262,991 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in CCC Intelligent Solutions during the fourth quarter worth approximately $278,000. Wealth Alliance increased its holdings in shares of CCC Intelligent Solutions by 22.9% in the 4th quarter. Wealth Alliance now owns 14,795 shares of the company’s stock valued at $169,000 after acquiring an additional 2,759 shares during the period. Finally, Strs Ohio increased its stake in CCC Intelligent Solutions by 8.0% in the 4th quarter. Strs Ohio now owns 174,608 shares of the company’s stock valued at $1,988,000 after buying an additional 12,862 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insider Activity

In related news, CAO Rodney Christo sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at approximately $176,925. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Rodney Christo sold 30,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.50, for a total value of $375,000.00. Following the completion of the sale, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at $176,925. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mary Jo Prigge sold 82,813 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $12.50, for a total value of $1,035,162.50. Following the completion of the transaction, the insider now directly owns 76,954 shares of the company’s stock, valued at $961,925. The disclosure for this sale can be found here. Insiders have sold 59,706,755 shares of company stock valued at $681,785,331 in the last ninety days. 6.47% of the stock is owned by company insiders.

CCC Intelligent Solutions Price Performance

CCCS stock traded down $0.12 during midday trading on Thursday, reaching $11.41. 61,750 shares of the stock were exchanged, compared to its average volume of 3,177,214. The stock has a market capitalization of $6.90 billion, a PE ratio of -54.90 and a beta of 0.62. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.42 and a 52 week high of $13.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.29 and a quick ratio of 2.29. The company has a fifty day moving average price of $11.75 and a 200 day moving average price of $11.51.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. The company had revenue of $228.60 million during the quarter, compared to the consensus estimate of $222.80 million. As a group, analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several recent research reports. Barclays boosted their price objective on shares of 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. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Thursday, February 29th. Evercore ISI lifted their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Piper Sandler lifted their price target on CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Citigroup reaffirmed a “buy” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average price target of $13.63.

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.