Headlands Technologies LLC Makes New Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Headlands Technologies LLC acquired a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the 4th quarter, Holdings Channel reports. The firm acquired 16,266 shares of the company’s stock, valued at approximately $191,000.

A number of other hedge funds have also recently made changes to their positions in CCCS. Eagle Bay Advisors LLC bought a new position in CCC Intelligent Solutions in the 4th quarter worth approximately $25,000. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter worth $28,000. TD Private Client Wealth LLC bought a new position in shares of CCC Intelligent Solutions during the fourth quarter worth $31,000. GAMMA Investing LLC grew its stake in CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after acquiring an additional 2,479 shares in the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in CCC Intelligent Solutions in the 4th quarter valued at $54,000. Institutional investors own 95.79% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 approximately $23,306,099.76. This represents a 94.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eileen Schloss sold 27,478 shares of CCC Intelligent Solutions stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the completion of the sale, the director now owns 26,569 shares of the company’s stock, valued at $228,493.40. The trade was a 50.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,087,456 shares of company stock worth $434,240,401 in the last three months. Corporate insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Trading Down 0.8 %

NYSE CCCS opened at $8.52 on Friday. The stock has a market cap of $5.60 billion, a PE ratio of 426.21 and a beta of 0.77. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.25 and a 12 month high of $12.88. The company’s 50-day moving average price is $9.98 and its 200-day moving average price is $10.96. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

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

Wall Street Analysts Forecast Growth

CCCS has been the subject of several research reports. 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. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.14.

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.