Sei Investments Co. Reduces Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Sei Investments Co. lessened its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,133,251 shares of the company’s stock after selling 14,667 shares during the quarter. Sei Investments Co.’s holdings in CCC Intelligent Solutions were worth $48,483,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares in the last quarter. Norman Fields Gottscho Capital Management LLC lifted its stake in CCC Intelligent Solutions by 34.5% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock valued at $4,663,000 after buying an additional 101,885 shares in the last quarter. Barclays PLC grew its holdings in CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after buying an additional 66,386 shares during the last quarter. HighTower Advisors LLC increased its position in CCC Intelligent Solutions by 1,355.0% during the third quarter. HighTower Advisors LLC now owns 602,797 shares of the company’s stock worth $6,662,000 after buying an additional 561,367 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of CCC Intelligent Solutions by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company’s stock worth $5,016,000 after acquiring an additional 85,725 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CCC Intelligent Solutions

In related news, Director Eileen Schloss sold 34,055 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.98, for a total value of $305,813.90. Following the transaction, the director now directly owns 54,047 shares of the company’s stock, valued at approximately $485,342.06. This trade represents a 38.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. This trade represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,054,132 shares of company stock worth $433,950,599. 6.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCCS. Piper Sandler reiterated a “neutral” rating and set a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.14.

CCC Intelligent Solutions Stock Down 0.6 %

CCCS opened at $9.00 on Monday. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 450.23 and a beta of 0.73. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.83 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. The business has a 50-day moving average of $10.44 and a two-hundred day moving average of $11.08.

CCC Intelligent Solutions announced that its board has initiated a stock repurchase program on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are 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.