Sei Investments Co. Decreases Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Sei Investments Co. lessened its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,133,251 shares of the company’s stock after selling 14,667 shares during the quarter. Sei Investments Co. owned approximately 0.63% of CCC Intelligent Solutions worth $48,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CCCS. Eagle Bay Advisors LLC purchased a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $25,000. UMB Bank n.a. acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at $28,000. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $31,000. Advisors Asset Management Inc. increased its position in shares of CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after purchasing an additional 2,479 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CCCS. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Finally, Piper Sandler reiterated a “neutral” rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $13.14.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the transaction, the director now owns 2,258,343 shares of the company’s stock, valued at $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rodney Christo sold 20,077 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,054,132 shares of company stock valued at $433,950,599. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Trading Down 0.6 %

NYSE:CCCS opened at $9.00 on Monday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $10.44 and its 200-day simple moving average is $11.08. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.83 and a 12-month high of $12.88. The firm has a market cap of $5.92 billion, a P/E ratio of 450.23 and a beta of 0.73.

CCC Intelligent Solutions announced that its Board of Directors has approved a stock buyback plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.