Granahan Investment Management LLC Has $6.07 Million Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Granahan Investment Management LLC reduced its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 14.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 517,180 shares of the company’s stock after selling 90,806 shares during the quarter. Granahan Investment Management LLC owned 0.08% of CCC Intelligent Solutions worth $6,067,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. D. E. Shaw & Co. Inc. raised its holdings in CCC Intelligent Solutions by 2.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 244,951 shares of the company’s stock worth $2,873,000 after buying an additional 5,951 shares during the period. Brown Advisory Inc. raised its holdings in shares of CCC Intelligent Solutions by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company’s stock worth $164,613,000 after acquiring an additional 299,943 shares during the period. BNP Paribas Financial Markets bought a new stake in CCC Intelligent Solutions in the 4th quarter valued at $1,699,000. Ameriprise Financial Inc. boosted its stake in CCC Intelligent Solutions by 42.3% in the 4th quarter. Ameriprise Financial Inc. now owns 986,831 shares of the company’s stock worth $11,576,000 after purchasing an additional 293,355 shares during the period. Finally, Consolidated Press International Holdings Ltd. raised its stake in shares of CCC Intelligent Solutions by 13.1% in the 4th quarter. Consolidated Press International Holdings Ltd. now owns 110,700 shares of the company’s stock valued at $1,299,000 after purchasing an additional 12,800 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the transaction, the director now directly owns 2,258,343 shares of the company’s stock, valued at $23,306,099.76. This represents a 94.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eileen Schloss sold 34,055 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.98, for a total value of $305,813.90. Following the sale, the director now owns 54,047 shares of the company’s stock, valued at approximately $485,342.06. This represents a 38.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. 6.03% of the stock is owned by insiders.

CCC Intelligent Solutions Stock Performance

NYSE CCCS opened at $9.00 on Friday. The firm’s fifty day moving average price is $8.97 and its two-hundred day moving average price is $10.58. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88. The firm has a market capitalization of $5.93 billion, a P/E ratio of 450.23 and a beta of 0.76. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $251.57 million during the quarter, compared to the consensus estimate of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. As a group, research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCCS. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday. The Goldman Sachs Group reduced their price target on CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley lowered their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Piper Sandler reduced their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. 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 an average rating of “Moderate Buy” and an average price target of $12.19.

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.