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

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Rodney Christo sold 20,077 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

CCC Intelligent Solutions Stock Down 1.5 %

CCCS stock opened at $10.04 on Tuesday. The company’s 50 day simple moving average is $11.10 and its 200-day simple moving average is $11.23. The firm has a market capitalization of $6.59 billion, a PE ratio of 502.25 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $9.79 and a 12 month high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions declared that its Board of Directors has initiated 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 reacquire up to 4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

CCCS has been the subject of a number of research reports. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. 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. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several institutional investors and hedge funds have recently modified their holdings of the company. Cache Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth $1,362,000. Squarepoint Ops LLC grew its holdings in CCC Intelligent Solutions by 736.2% during the 4th quarter. Squarepoint Ops LLC now owns 141,091 shares of the company’s stock valued at $1,655,000 after purchasing an additional 124,218 shares in the last quarter. Twinbeech Capital LP acquired a new stake in CCC Intelligent Solutions during the 4th quarter valued at $489,000. TPG GP A LLC grew its holdings in CCC Intelligent Solutions by 17.3% during the 4th quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock valued at $47,943,000 after purchasing an additional 602,959 shares in the last quarter. Finally, State of Wyoming grew its holdings in CCC Intelligent Solutions by 26.7% during the 4th quarter. State of Wyoming now owns 17,680 shares of the company’s stock valued at $207,000 after purchasing an additional 3,731 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.