CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC grew its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 130.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,208 shares of the company’s stock after acquiring an additional 80,459 shares during the quarter. Corient Private Wealth LLC’s holdings in CCC Intelligent Solutions were worth $1,668,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CCCS. Piper Sandler restated a “neutral” rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Finally, Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. 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 a consensus target price of $13.14.

CCC Intelligent Solutions Stock Up 1.7 %

NYSE CCCS opened at $9.15 on Tuesday. The stock has a market cap of $6.02 billion, a PE ratio of 457.73 and a beta of 0.73. The business has a 50 day moving average price of $10.40 and a two-hundred day moving average price of $11.08. 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 quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions declared that its board has approved a share buyback plan on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eileen Schloss sold 34,055 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the transaction, the director now owns 54,047 shares of the company’s stock, valued at approximately $485,342.06. This trade represents a 38.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,054,132 shares of company stock worth $433,950,599. 6.67% of the stock is currently owned by company insiders.

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.