Insider Selling: CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Sells 5,846 Shares of Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Rodney Christo sold 5,846 shares of CCC Intelligent Solutions stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total value of $53,490.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rodney Christo also recently made the following trade(s):

• On Monday, March 3rd, Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock. The stock was sold at an average price of $10.20, for a total value of $204,785.40.

CCC Intelligent Solutions Stock Up 0.4 %

NYSE:CCCS traded up $0.04 during trading hours on Tuesday, hitting $9.19. 8,214,476 shares of the company’s stock traded hands, compared to its average volume of 4,125,919. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.83 and a twelve month high of $12.88. The firm has a market cap of $6.04 billion, a P/E ratio of 459.73 and a beta of 0.73. 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’s fifty day moving average price is $10.40 and its two-hundred day moving average price is $11.08.

CCC Intelligent Solutions declared that its board has authorized a stock buyback plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCCS. Principal Financial Group Inc. increased its stake in shares of CCC Intelligent Solutions by 4.9% in the third quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock worth $292,654,000 after acquiring an additional 1,234,281 shares during the last quarter. Victory Capital Management Inc. grew its stake in CCC Intelligent Solutions by 5.2% in the third quarter. Victory Capital Management Inc. now owns 52,720 shares of the company’s stock valued at $583,000 after purchasing an additional 2,626 shares in the last quarter. Swiss National Bank increased its position in CCC Intelligent Solutions by 30.6% in the 3rd quarter. Swiss National Bank now owns 788,900 shares of the company’s stock worth $8,717,000 after purchasing an additional 184,900 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of CCC Intelligent Solutions by 153.0% during the 3rd 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, Charles Schwab Investment Management Inc. lifted its holdings in shares of CCC Intelligent Solutions by 26.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,811,792 shares of the company’s stock valued at $42,120,000 after buying an additional 801,320 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.