Principal Financial Group Inc. Boosts Stock Position in CCC Intelligent Solutions Holdings Inc. $CCCS

Principal Financial Group Inc. increased its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 20.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 38,305,155 shares of the company’s stock after buying an additional 6,501,213 shares during the quarter. Principal Financial Group Inc. owned approximately 0.06% of CCC Intelligent Solutions worth $348,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of CCC Intelligent Solutions in the second quarter worth $59,755,000. Artisan Partners Limited Partnership lifted its stake in shares of CCC Intelligent Solutions by 23.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 31,055,604 shares of the company’s stock valued at $292,233,000 after buying an additional 5,991,997 shares in the last quarter. Alfreton Capital LLP boosted its holdings in CCC Intelligent Solutions by 381.0% in the 2nd quarter. Alfreton Capital LLP now owns 7,000,000 shares of the company’s stock worth $65,870,000 after buying an additional 5,544,792 shares during the period. Bessemer Group Inc. increased its stake in CCC Intelligent Solutions by 49.5% in the 2nd quarter. Bessemer Group Inc. now owns 14,805,779 shares of the company’s stock worth $139,321,000 after buying an additional 4,903,086 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of CCC Intelligent Solutions in the second quarter valued at about $34,120,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Trading Up 0.7%

CCCS stock opened at $7.58 on Monday. The firm has a fifty day moving average price of $7.80 and a 200 day moving average price of $8.71. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $12.88. The firm has a market cap of $4.94 billion, a PE ratio of 379.19 and a beta of 0.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $267.12 million during the quarter, compared to analysts’ expectations of $265.01 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. Sell-side analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on CCCS shares. Barclays lowered their price target on CCC Intelligent Solutions from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Piper Sandler lowered their target price on shares of CCC Intelligent Solutions from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group set a $11.00 target price on shares of CCC Intelligent Solutions in a research note on Thursday, October 30th. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, October 27th. Finally, Stifel Nicolaus dropped their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.38.

About CCC Intelligent Solutions

CCC Intelligent Solutions Inc (NYSE: CCCS) is a leading provider of digital solutions and data analytics to the property and casualty insurance, automotive repair, and connected vehicle markets. The company’s core offerings are designed to improve the efficiency, accuracy, and transparency of collision repair and claims processes. By leveraging advanced machine learning, computer vision, and telematics, CCC enables insurers, repair shops, and vehicle owners to streamline workflows, enhance decision-making, and reduce cycle times.

The company’s flagship platform, CCC ONE®, integrates estimating, repair management, parts sourcing, supplier collaboration, and digital transaction workflows into a single, cloud-based environment.