CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Sells $204,785.40 in Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Rodney Christo sold 20,077 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total value of $204,785.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

CCC Intelligent Solutions Stock Up 0.6 %

CCC Intelligent Solutions stock opened at $9.72 on Thursday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market cap of $6.38 billion, a P/E ratio of 486.24 and a beta of 0.71. The business has a fifty day moving average of $11.01 and a two-hundred day moving average of $11.21. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.46 and a twelve month high of $12.88.

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

Hedge Funds Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cache Advisors LLC bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at about $1,362,000. Squarepoint Ops LLC lifted its position in CCC Intelligent Solutions by 736.2% during the fourth quarter. Squarepoint Ops LLC now owns 141,091 shares of the company’s stock valued at $1,655,000 after acquiring an additional 124,218 shares during the last quarter. Twinbeech Capital LP acquired a new stake in CCC Intelligent Solutions in the fourth quarter valued at approximately $489,000. TPG GP A LLC grew its holdings in CCC Intelligent Solutions by 17.3% in the fourth quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock worth $47,943,000 after purchasing an additional 602,959 shares during the last quarter. Finally, State of Wyoming increased its position in shares of CCC Intelligent Solutions by 26.7% during the fourth quarter. State of Wyoming now owns 17,680 shares of the company’s stock worth $207,000 after purchasing an additional 3,731 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

CCCS has been the topic of a number of research analyst reports. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Piper Sandler reiterated a “neutral” rating and issued a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $13.38.

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.