CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Sells $305,813.90 in Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.98, for a total transaction of $305,813.90. Following the completion of the sale, the director now directly owns 54,047 shares of the company’s stock, valued at $485,342.06. The trade was a 38.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

CCC Intelligent Solutions Stock Down 0.6 %

CCC Intelligent Solutions stock traded down $0.05 during trading on Friday, reaching $9.00. 11,209,889 shares of the company’s stock were exchanged, compared to its average volume of 4,104,262. The company’s 50-day moving average is $10.48 and its two-hundred day moving average is $11.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.83 and a 52-week high of $12.88. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 450.23 and a beta of 0.73.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share repurchase program on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows 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.

Institutional Trading of CCC Intelligent Solutions

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

Analyst Upgrades and Downgrades

Several research firms have commented on CCCS. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Finally, Barrington Research reissued an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.14.

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.