CCC Intelligent Solutions (NYSE:CCCS) Sees Unusually-High Trading Volume – What’s Next?

Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) saw an uptick in trading volume on Friday . 4,484,148 shares were traded during trading, an increase of 3% from the previous session’s volume of 4,365,128 shares.The stock last traded at $10.38 and had previously closed at $10.43.

Analyst Ratings Changes

Several research firms recently weighed in on CCCS. 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. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Wednesday. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

CCC Intelligent Solutions Price Performance

The stock has a market cap of $6.69 billion, a P/E ratio of 509.75 and a beta of 0.71. 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 business’s 50-day simple moving average is $11.14 and its two-hundred day simple moving average is $11.22.

CCC Intelligent Solutions announced that its Board of Directors has initiated a share repurchase program on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at $1,216,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.67% of the company’s stock.

Institutional Investors Weigh In On CCC Intelligent Solutions

Institutional investors and hedge funds have recently modified their holdings of the company. Adero Partners LLC lifted its holdings in shares of CCC Intelligent Solutions by 118.5% in the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock worth $63,879,000 after buying an additional 3,135,650 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares in the last quarter. Norman Fields Gottscho Capital Management LLC raised its stake in CCC Intelligent Solutions by 34.5% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock valued at $4,663,000 after purchasing an additional 101,885 shares in the last quarter. Barclays PLC raised its stake in CCC Intelligent Solutions by 155.7% in the third quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after purchasing an additional 66,386 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in CCC Intelligent Solutions by 12.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 558,595 shares of the company’s stock valued at $6,172,000 after purchasing an additional 61,660 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

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.