CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Eileen Schloss Sells 34,055 Shares

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Eileen Schloss sold 34,055 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 54,047 shares in the company, valued at $485,342.06. This represents a 38.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CCC Intelligent Solutions Stock Down 0.6 %

CCCS stock opened at $9.00 on Friday. 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 Holdings Inc. has a 1 year low of $8.83 and a 1 year high of $12.88. The company has a fifty day simple moving average of $10.44 and a 200 day simple moving average of $11.08. The firm has a market cap of $5.92 billion, a PE ratio of 450.23 and a beta of 0.73.

CCC Intelligent Solutions announced that its board has initiated a stock repurchase plan on Friday, December 20th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Piper Sandler reiterated 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. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.14.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of CCC Intelligent Solutions by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company’s stock valued at $807,807,000 after purchasing an additional 4,060,284 shares during the last quarter. Vanguard Group Inc. lifted its position in CCC Intelligent Solutions by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company’s stock worth $602,772,000 after acquiring an additional 847,334 shares during the last quarter. Principal Financial Group Inc. lifted its position in CCC Intelligent Solutions by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock worth $316,001,000 after acquiring an additional 455,040 shares during the last quarter. Wasatch Advisors LP lifted its position in CCC Intelligent Solutions by 49.1% during the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after acquiring an additional 4,716,587 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in CCC Intelligent Solutions by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company’s stock worth $164,613,000 after acquiring an additional 299,943 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

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.