Bank Julius Baer & Co. Ltd Zurich Purchases 176,939 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Bank Julius Baer & Co. Ltd Zurich lifted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 15.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,332,305 shares of the company’s stock after buying an additional 176,939 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in CCC Intelligent Solutions were worth $15,862,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Marco Investment Management LLC grew its stake in shares of CCC Intelligent Solutions by 29.8% during the fourth quarter. Marco Investment Management LLC now owns 13,275 shares of the company’s stock worth $156,000 after acquiring an additional 3,050 shares during the last quarter. Raymond James Financial Inc. acquired a new position in CCC Intelligent Solutions in the 4th quarter valued at $31,020,000. Arizona State Retirement System increased its stake in shares of CCC Intelligent Solutions by 1.0% in the 4th quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock worth $1,378,000 after acquiring an additional 1,150 shares during the last quarter. Atria Investments Inc increased its position in shares of CCC Intelligent Solutions by 22.2% during the 4th quarter. Atria Investments Inc now owns 94,585 shares of the company’s stock worth $1,109,000 after purchasing an additional 17,158 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in CCC Intelligent Solutions by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,831,838 shares of the company’s stock valued at $44,947,000 after acquiring an additional 20,046 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. cut CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Piper Sandler restated a “neutral” rating and set a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Finally, Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Insiders Place Their Bets

In related news, Director Crescenzo Neil E. De bought 100,000 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at $1,216,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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. 6.67% of the stock is currently owned by insiders.

CCC Intelligent Solutions Stock Down 0.6 %

Shares of NYSE:CCCS opened at $9.29 on Friday. The company has a market capitalization of $6.11 billion, a P/E ratio of 464.73 and a beta of 0.73. The stock’s fifty day simple moving average is $10.91 and its 200-day simple moving average is $11.19. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.98 and a 52-week high of $12.88. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

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

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.