Cannon Global Investment Management LLC Buys 3,000 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Cannon Global Investment Management LLC boosted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,000 shares of the company’s stock after acquiring an additional 3,000 shares during the period. CCC Intelligent Solutions accounts for 1.4% of Cannon Global Investment Management LLC’s portfolio, making the stock its 23rd largest position. Cannon Global Investment Management LLC’s holdings in CCC Intelligent Solutions were worth $633,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of CCC Intelligent Solutions by 4.9% during the third quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock worth $292,654,000 after acquiring an additional 1,234,281 shares during the period. Victory Capital Management Inc. raised its position in CCC Intelligent Solutions by 5.2% during the third quarter. Victory Capital Management Inc. now owns 52,720 shares of the company’s stock worth $583,000 after acquiring an additional 2,626 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of CCC Intelligent Solutions by 22.5% during the 3rd quarter. Natixis Advisors LLC now owns 305,321 shares of the company’s stock worth $3,374,000 after acquiring an additional 56,147 shares during the period. Swiss National Bank raised its holdings in CCC Intelligent Solutions by 30.6% in the 3rd quarter. Swiss National Bank now owns 788,900 shares of the company’s stock valued at $8,717,000 after acquiring an additional 184,900 shares during the period. Finally, Advisors Asset Management Inc. boosted its position 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 valued at $32,000 after acquiring an additional 1,729 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CCCS shares. Barrington Research reissued an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Piper Sandler reissued a “neutral” rating and issued a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their price target 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.14.

CCC Intelligent Solutions Trading Down 0.6 %

Shares of CCCS opened at $9.00 on Monday. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.83 and a 1-year high of $12.88. The firm’s 50 day simple moving average is $10.44 and its 200 day simple moving average is $11.08. The company has a market capitalization of $5.92 billion, a P/E ratio of 450.23 and a beta of 0.73. 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 has initiated 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 reacquire up to 4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Eileen Schloss sold 34,055 shares of the company’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 completion of the transaction, the director now owns 54,047 shares in the company, valued at $485,342.06. This represents a 38.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the firm’s 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,054,132 shares of company stock valued at $433,950,599. Insiders own 6.67% 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.