Wasatch Advisors LP Lowers Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wasatch Advisors LP trimmed its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,163,764 shares of the company’s stock after selling 167,266 shares during the quarter. Wasatch Advisors LP’s holdings in CCC Intelligent Solutions were worth $166,141,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CCCS. Eagle Bay Advisors LLC bought a new position in CCC Intelligent Solutions in the 4th quarter worth about $25,000. UMB Bank n.a. purchased a new position in CCC Intelligent Solutions in the fourth quarter worth about $28,000. TD Private Client Wealth LLC bought a new position in shares of CCC Intelligent Solutions in the fourth quarter worth approximately $31,000. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $54,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. This trade represents a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 42,087,456 shares of company stock worth $434,240,401 in the last three months. 6.67% of the stock is currently owned by company insiders.

CCC Intelligent Solutions Stock Down 1.0 %

CCC Intelligent Solutions stock opened at $8.84 on Wednesday. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88. The stock has a fifty day moving average of $9.56 and a 200 day moving average of $10.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The stock has a market cap of $5.83 billion, a PE ratio of 442.22 and a beta of 0.77.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCCS. Barclays lowered their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Piper Sandler reiterated a “neutral” rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.86.

CCC Intelligent Solutions 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.