CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Rodney Christo Sells 20,077 Shares

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Rodney Christo sold 20,077 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a legal filing with the SEC, which is available at this link.

CCC Intelligent Solutions Price Performance

Shares of NYSE:CCCS opened at $9.72 on Thursday. The business has a fifty day moving average price of $11.01 and a 200-day moving average price of $11.21. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company has a market capitalization of $6.38 billion, a PE ratio of 486.24 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $9.46 and a 1-year high of $12.88.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stephens Inc. AR raised its holdings in CCC Intelligent Solutions by 47.1% in the 3rd quarter. Stephens Inc. AR now owns 25,296 shares of the company’s stock worth $280,000 after acquiring an additional 8,103 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of CCC Intelligent Solutions by 1.6% in the 3rd quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company’s stock worth $26,201,000 after purchasing an additional 36,867 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of CCC Intelligent Solutions by 15.5% in the third quarter. Chicago Partners Investment Group LLC now owns 14,596 shares of the company’s stock worth $162,000 after purchasing an additional 1,957 shares during the last quarter. Janney Capital Management LLC bought a new position in shares of CCC Intelligent Solutions during the third quarter valued at $321,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of CCC Intelligent Solutions by 67.2% during the third quarter. Harbor Capital Advisors Inc. now owns 340,397 shares of the company’s stock valued at $3,761,000 after buying an additional 136,854 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CCCS shares. Piper Sandler reaffirmed a “neutral” rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. JPMorgan Chase & Co. cut CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 target price 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 five have assigned a buy rating to the company’s stock. According to MarketBeat.com, CCC Intelligent Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

About CCC Intelligent Solutions

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.