Insider Selling: CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Sells 20,077 Shares of Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Rodney Christo sold 20,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

CCC Intelligent Solutions Trading Down 1.5 %

NYSE CCCS opened at $10.04 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm’s fifty day moving average price is $11.10 and its 200 day moving average price is $11.23. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 502.25 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $9.79 and a 12 month high of $12.88.

CCC Intelligent Solutions declared that its board has approved a share 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 purchase up to 4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. grew its position in shares of CCC Intelligent Solutions by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company’s stock valued at $807,807,000 after buying an additional 4,060,284 shares during the last quarter. Vanguard Group Inc. grew its position in shares of CCC Intelligent Solutions by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company’s stock valued at $602,772,000 after buying an additional 847,334 shares during the last quarter. Principal Financial Group Inc. grew its position in CCC Intelligent Solutions by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock worth $316,001,000 after purchasing an additional 455,040 shares during the last quarter. Wasatch Advisors LP grew its position in CCC Intelligent Solutions by 49.1% during the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after purchasing an additional 4,716,587 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in CCC Intelligent Solutions by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company’s stock worth $164,613,000 after purchasing an additional 299,943 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About CCC Intelligent Solutions

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.