Investment House LLC Buys 181,600 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Investment House LLC boosted its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 54.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 515,820 shares of the company’s stock after buying an additional 181,600 shares during the quarter. Investment House LLC’s holdings in CCC Intelligent Solutions were worth $6,051,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Xponance Inc. lifted its holdings in CCC Intelligent Solutions by 11.5% during the fourth quarter. Xponance Inc. now owns 23,060 shares of the company’s stock valued at $270,000 after purchasing an additional 2,378 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in CCC Intelligent Solutions by 130.3% during the fourth quarter. Corient Private Wealth LLC now owns 142,208 shares of the company’s stock valued at $1,668,000 after purchasing an additional 80,459 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in CCC Intelligent Solutions by 122.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 72,627 shares of the company’s stock valued at $852,000 after purchasing an additional 39,986 shares during the last quarter. Natixis Advisors LLC lifted its holdings in CCC Intelligent Solutions by 7.8% during the fourth quarter. Natixis Advisors LLC now owns 329,009 shares of the company’s stock valued at $3,859,000 after purchasing an additional 23,688 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in CCC Intelligent Solutions by 1.0% during the fourth quarter. Swiss National Bank now owns 797,000 shares of the company’s stock valued at $9,349,000 after purchasing an additional 8,100 shares during the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.14.

CCC Intelligent Solutions Trading Down 1.5 %

Shares of CCC Intelligent Solutions stock opened at $9.26 on Wednesday. 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 market cap of $6.09 billion, a price-to-earnings ratio of 463.23 and a beta of 0.73. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $10.58 and its 200-day moving average price is $11.12.

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

Insider Transactions at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De bought 100,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at $1,216,000. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. Insiders own 6.67% of the company’s stock.

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.