TimesSquare Capital Management LLC Buys New Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

TimesSquare Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 223,000 shares of the company’s stock, valued at approximately $2,540,000.

Several other large investors also recently modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH grew its holdings in CCC Intelligent Solutions by 6.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,225,063 shares of the company’s stock worth $25,343,000 after acquiring an additional 127,738 shares during the last quarter. Riverbridge Partners LLC raised its holdings in CCC Intelligent Solutions by 41.6% in the fourth quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock worth $77,865,000 after purchasing an additional 2,009,175 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at $3,818,000. Invesco Ltd. raised its stake in CCC Intelligent Solutions by 19.2% during the 3rd quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock worth $104,437,000 after buying an additional 1,260,457 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in CCC Intelligent Solutions in the third quarter valued at about $8,694,000. 95.79% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the sale, the director now directly owns 5,164,022 shares in the company, valued at $58,508,369.26. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the transaction, the director now directly owns 5,164,022 shares in the company, valued at $58,508,369.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Githesh Ramamurthy sold 57,619 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $11.52, for a total transaction of $663,770.88. Following the sale, the insider now directly owns 6,463,840 shares of the company’s stock, valued at $74,463,436.80. 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 90 days. Insiders own 6.67% of the company’s stock.

Analyst Upgrades and Downgrades

CCCS has been the subject of several research analyst reports. Citigroup reiterated a “buy” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a report on Thursday, February 8th. Piper Sandler raised their price objective on CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Evercore ISI increased their price target on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Barclays upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

CCC Intelligent Solutions Stock Down 0.4 %

Shares of CCCS traded down $0.04 during trading hours on Friday, reaching $10.63. The stock had a trading volume of 123,842 shares, compared to its average volume of 3,128,799. 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 firm has a 50-day simple moving average of $11.65 and a 200 day simple moving average of $11.40. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $9.10 and a 12 month high of $13.41. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of -50.81 and a beta of 0.63.

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 10.85% and a positive return on equity of 4.52%. The company had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $222.80 million. Equities research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

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.