Chicago Partners Investment Group LLC Buys 3,090 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Chicago Partners Investment Group LLC lifted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,686 shares of the company’s stock after purchasing an additional 3,090 shares during the period. Chicago Partners Investment Group LLC’s holdings in CCC Intelligent Solutions were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CCCS. Wasatch Advisors LP lifted its holdings in shares of 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 during the period. Adero Partners LLC raised 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 valued at $63,879,000 after acquiring an additional 3,135,650 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of CCC Intelligent Solutions by 35.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock valued at $95,571,000 after acquiring an additional 2,272,336 shares in the last quarter. State Street Corp lifted its stake in CCC Intelligent Solutions by 32.2% in the third quarter. State Street Corp now owns 7,446,518 shares of the company’s stock worth $82,284,000 after acquiring an additional 1,815,816 shares during the period. Finally, Wellington Management Group LLP grew its holdings in CCC Intelligent Solutions by 92.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,279,252 shares of the company’s stock worth $36,236,000 after acquiring an additional 1,578,942 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

Insider Activity

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De acquired 100,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased 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 directly owns 100,000 shares of the company’s stock, valued at $1,216,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rodney Christo sold 75,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 433,805 shares of company stock valued at $5,283,361. Company insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Price Performance

NYSE CCCS opened at $11.07 on Thursday. The stock’s fifty day moving average price is $11.72 and its 200 day moving average price is $11.21. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 553.78 and a beta of 0.71.

CCC Intelligent Solutions declared that its Board of Directors has initiated a stock buyback plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CCCS has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Barclays lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Finally, Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.89.

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.