CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lifted its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 25.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,741 shares of the company’s stock after acquiring an additional 5,804 shares during the period. HighPoint Advisor Group LLC’s holdings in CCC Intelligent Solutions were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Alliancebernstein L.P. boosted its position in CCC Intelligent Solutions by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 188,631 shares of the company’s stock worth $2,213,000 after purchasing an additional 1,539 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in shares of CCC Intelligent Solutions by 66.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 6,219,470 shares of the company’s stock worth $72,954,000 after buying an additional 2,492,900 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of CCC Intelligent Solutions by 2.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 169,795 shares of the company’s stock valued at $1,992,000 after buying an additional 4,429 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in CCC Intelligent Solutions by 19.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 59,343 shares of the company’s stock worth $696,000 after acquiring an additional 9,758 shares in the last quarter. Finally, Norges Bank purchased a new position in CCC Intelligent Solutions in the 4th quarter worth approximately $50,032,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Trading Down 2.7 %

CCCS opened at $8.59 on Friday. The stock has a market capitalization of $5.65 billion, a PE ratio of 429.71 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 Holdings Inc. has a 12-month low of $8.43 and a 12-month high of $12.88. The firm’s fifty day moving average price is $10.04 and its 200 day moving average price is $10.98.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share buyback program on Friday, December 20th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CAO Rodney Christo sold 20,077 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Wei sold 42,000,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,059,978 shares of company stock worth $434,004,090. 6.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CCCS shares. 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 note on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.14.

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.