Westfield Capital Management Co. LP Acquires 176,251 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Westfield Capital Management Co. LP raised its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,299,865 shares of the company’s stock after acquiring an additional 176,251 shares during the quarter. Westfield Capital Management Co. LP’s holdings in CCC Intelligent Solutions were worth $47,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCCS. Vanguard Group Inc. grew its position in CCC Intelligent Solutions by 17.7% during 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 during the last quarter. Bessemer Group Inc. lifted its holdings in CCC Intelligent Solutions by 143.8% in the 1st quarter. Bessemer Group Inc. now owns 33,449 shares of the company’s stock valued at $400,000 after purchasing an additional 19,730 shares in the last quarter. American International Group Inc. grew its stake in CCC Intelligent Solutions by 68.6% during the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares in the last quarter. Teca Partners LP increased its holdings in shares of CCC Intelligent Solutions by 46.3% in the first quarter. Teca Partners LP now owns 1,938,415 shares of the company’s stock valued at $23,183,000 after purchasing an additional 613,070 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in CCC Intelligent Solutions by 63.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 169,261 shares of the company’s stock worth $2,025,000 after buying an additional 65,743 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Trading Up 1.1 %

NYSE:CCCS opened at $12.47 on Monday. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.68. The stock 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. The stock has a 50-day simple moving average of $11.10 and a 200-day simple moving average of $11.04.

CCC Intelligent Solutions (NYSE:CCCS) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million for the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share. As a group, analysts anticipate 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 related news, insider Mary Jo Prigge sold 2,489 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total transaction of $29,868.00. Following the completion of the sale, the insider now owns 97,268 shares in the company, valued at $1,167,216. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total transaction of $107,502.00. Following the completion of the transaction, the insider now owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 268,153 shares of company stock valued at $3,195,485 over the last ninety days. Insiders own 6.67% of the company’s stock.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Bank of America initiated coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Barclays lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $13.78.

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.