Vanguard Group Inc. Increases Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Vanguard Group Inc. boosted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 51,387,172 shares of the company’s stock after buying an additional 847,334 shares during the period. Vanguard Group Inc. owned 0.08% of CCC Intelligent Solutions worth $602,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCCS. LPL Financial LLC grew its holdings in CCC Intelligent Solutions by 290.4% in the fourth quarter. LPL Financial LLC now owns 156,577 shares of the company’s stock valued at $1,837,000 after purchasing an additional 116,474 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in CCC Intelligent Solutions in the 4th quarter valued at about $996,000. TD Private Client Wealth LLC acquired a new stake in CCC Intelligent Solutions in the 4th quarter valued at about $31,000. Teacher Retirement System of Texas increased its holdings in CCC Intelligent Solutions by 105.6% during the 4th quarter. Teacher Retirement System of Texas now owns 162,619 shares of the company’s stock valued at $1,908,000 after acquiring an additional 83,533 shares in the last quarter. Finally, Lindenwold Advisors INC raised its position in CCC Intelligent Solutions by 30.5% during the fourth quarter. Lindenwold Advisors INC now owns 17,025 shares of the company’s stock worth $200,000 after acquiring an additional 3,975 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler reiterated a “neutral” rating and issued a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $14.00 to $11.00 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 research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.14.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the transaction, the director now owns 2,258,343 shares of the company’s stock, valued at $23,306,099.76. This trade represents a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,059,978 shares of company stock worth $434,004,090. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Trading Up 1.2 %

Shares of CCC Intelligent Solutions stock opened at $9.03 on Tuesday. The firm has a market cap of $5.94 billion, a PE ratio of 451.73 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. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.68 and a fifty-two week high of $12.88. The business’s fifty day moving average is $10.20 and its two-hundred day moving average is $11.02.

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

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.