Amundi Cuts Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Amundi trimmed its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 85.8% during the 4th quarter, Holdings Channel reports. The firm owned 18,659 shares of the company’s stock after selling 112,834 shares during the quarter. Amundi’s holdings in CCC Intelligent Solutions were worth $215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CCCS. Baker Tilly Wealth Management LLC grew its stake in CCC Intelligent Solutions by 6.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company’s stock worth $169,000 after buying an additional 888 shares in the last quarter. Central Pacific Bank Trust Division grew its position in CCC Intelligent Solutions by 6.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company’s stock worth $197,000 after acquiring an additional 960 shares in the last quarter. CIBC Asset Management Inc increased its stake in CCC Intelligent Solutions by 5.9% in the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock valued at $223,000 after acquiring an additional 1,054 shares during the last quarter. Berry Wealth Group LP raised its position in CCC Intelligent Solutions by 5.8% during the fourth quarter. Berry Wealth Group LP now owns 20,224 shares of the company’s stock valued at $237,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in CCC Intelligent Solutions by 1.0% during the fourth quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock worth $1,378,000 after purchasing an additional 1,150 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $9.00 on Friday. 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’s fifty day moving average is $10.44 and its 200 day moving average is $11.08. The firm has a market cap of $5.92 billion, a P/E ratio of 450.23 and a beta of 0.73.

CCC Intelligent Solutions declared that its board has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Activity at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 20,077 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the transaction, the director now directly owns 2,258,343 shares of the company’s stock, valued at $23,306,099.76. The trade was a 94.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,054,132 shares of company stock valued at $433,950,599. Insiders own 6.67% of the company’s stock.

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.