CCC Intelligent Solutions (NYSE:CCCS) Hits New 52-Week Low – Should You Sell?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $8.97 and last traded at $9.06, with a volume of 11075462 shares traded. The stock had previously closed at $9.29.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. 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, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average target price of $13.38.

CCC Intelligent Solutions Price Performance

The company’s 50-day simple moving average is $10.80 and its 200 day simple moving average is $11.17. 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 stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 456.73 and a beta of 0.73.

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

Insider Buying and Selling

In other news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the sale, the director now directly owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. Insiders own 6.67% of the company’s stock.

Institutional Trading of CCC Intelligent Solutions

A number of hedge funds have recently bought and sold shares of CCCS. Cache Advisors LLC acquired a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at about $1,362,000. Squarepoint Ops LLC raised its holdings in CCC Intelligent Solutions by 736.2% in the 4th 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 in the last quarter. Twinbeech Capital LP bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $489,000. TPG GP A LLC lifted its position in shares of CCC Intelligent Solutions by 17.3% in the 4th quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock worth $47,943,000 after acquiring an additional 602,959 shares during the period. Finally, State of Wyoming grew its holdings in shares of CCC Intelligent Solutions by 26.7% during the 4th 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. 95.79% of the stock is owned by 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.