TD Private Client Wealth LLC Acquires New Shares in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

TD Private Client Wealth LLC bought a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 4th quarter, HoldingsChannel.com reports. The fund bought 2,666 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in CCC Intelligent Solutions by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock worth $292,654,000 after purchasing an additional 1,234,281 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of CCC Intelligent Solutions by 5.2% during the third quarter. Victory Capital Management Inc. now owns 52,720 shares of the company’s stock worth $583,000 after buying an additional 2,626 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after buying an additional 1,729 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CCC Intelligent Solutions by 26.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,811,792 shares of the company’s stock valued at $42,120,000 after acquiring an additional 801,320 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of CCC Intelligent Solutions by 20.9% during the 3rd quarter. Raymond James Trust N.A. now owns 30,309 shares of the company’s stock valued at $335,000 after acquiring an additional 5,231 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

CCCS has been the subject of a number of recent research reports. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Finally, Piper Sandler reiterated a “neutral” rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average price target of $13.14.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 5,846 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total transaction of $53,490.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eileen Schloss sold 34,055 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.98, for a total value of $305,813.90. Following the sale, the director now owns 54,047 shares of the company’s stock, valued at approximately $485,342.06. The trade was a 38.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,059,978 shares of company stock valued at $434,004,090. 6.67% of the stock is currently owned by company insiders.

CCC Intelligent Solutions Trading Down 0.9 %

Shares of CCCS stock opened at $9.11 on Thursday. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.83 and a 1-year high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 455.73 and a beta of 0.73. The stock has a 50-day moving average of $10.33 and a 200-day moving average of $11.05.

CCC Intelligent Solutions declared that its board has initiated a share repurchase program on Friday, December 20th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

CCC Intelligent Solutions 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.