Zurcher Kantonalbank Zurich Cantonalbank Buys 25,702 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,196 shares of the company’s stock after acquiring an additional 25,702 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CCC Intelligent Solutions were worth $1,187,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CCCS. Eagle Bay Advisors LLC bought a new stake in CCC Intelligent Solutions in the 4th quarter worth approximately $25,000. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at $28,000. Advisors Asset Management Inc. increased its position in CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares during the last quarter. GAMMA Investing LLC raised its stake in CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Financial Management Professionals Inc. bought a new position in CCC Intelligent Solutions during the fourth quarter valued at $54,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Trading Down 0.8 %

Shares of NYSE CCCS opened at $9.19 on Thursday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 459.73 and a beta of 0.73. The business’s 50 day moving average price is $10.53 and its 200-day moving average price is $11.10.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on CCCS shares. Piper Sandler restated a “neutral” rating and issued a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average price target of $13.14.

Insiders Place Their Bets

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 2,258,343 shares in the company, valued at $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.67% of the company’s stock.

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.