Artisan Partners Limited Partnership Sells 361,571 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Artisan Partners Limited Partnership lowered its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 23,359,006 shares of the company’s stock after selling 361,571 shares during the period. Artisan Partners Limited Partnership’s holdings in CCC Intelligent Solutions were worth $274,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Eagle Bay Advisors LLC bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $25,000. UMB Bank n.a. purchased a new stake 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 valued at $31,000. Advisors Asset Management Inc. lifted its stake in shares of CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after buying an additional 1,729 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in CCC Intelligent Solutions by 286.9% in the 4th 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. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eileen Schloss sold 34,055 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.98, for a total transaction of $305,813.90. Following the transaction, the director now directly owns 54,047 shares in the company, valued at $485,342.06. The trade was a 38.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,059,978 shares of company stock worth $434,004,090. Insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $9.11 on Thursday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.83 and a 52 week high of $12.88. The business’s 50 day moving average price is $10.33 and its 200 day moving average price is $11.05. The firm has a market cap of $5.99 billion, a P/E ratio of 455.73 and a beta of 0.73.

CCC Intelligent Solutions declared that its board has authorized a share buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy up to 4% of its shares through open market purchases. Shares buyback programs are generally 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. Piper Sandler reiterated a “neutral” rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Finally, Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.