Natixis Advisors LLC Raises Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Natixis Advisors LLC grew its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,009 shares of the company’s stock after buying an additional 23,688 shares during the period. Natixis Advisors LLC owned 0.05% of CCC Intelligent Solutions worth $3,859,000 at the end of the most recent reporting period.

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

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $9.00 on Friday. The firm has a market capitalization of $5.92 billion, a P/E ratio of 450.23 and a beta of 0.73. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock’s 50-day simple moving average is $10.44 and its two-hundred day simple moving average is $11.08. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.83 and a twelve month high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has approved a stock repurchase plan on Friday, December 20th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CCCS shares. JPMorgan Chase & Co. cut CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Piper Sandler reissued a “neutral” rating and set a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a report 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 report on Monday, February 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.14.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of the company’s 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 transaction, the director now directly owns 54,047 shares in the company, valued at $485,342.06. This represents a 38.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 2,258,343 shares in the company, valued at $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,054,132 shares of company stock worth $433,950,599 in the last ninety days. 6.67% of the stock is currently owned by insiders.

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.