Polen Capital Management LLC Sells 33,886 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Polen Capital Management LLC reduced its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 4.3% during the 4th quarter, HoldingsChannel reports. The fund owned 762,304 shares of the company’s stock after selling 33,886 shares during the quarter. Polen Capital Management LLC’s holdings in CCC Intelligent Solutions were worth $8,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in CCC Intelligent Solutions by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock worth $316,001,000 after buying an additional 455,040 shares in the last quarter. Wasatch Advisors LP lifted its position in CCC Intelligent Solutions by 49.1% during the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after buying an additional 4,716,587 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in CCC Intelligent Solutions by 29.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock worth $143,822,000 after buying an additional 2,752,950 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in CCC Intelligent Solutions by 35.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock worth $95,571,000 after buying an additional 2,272,336 shares in the last quarter. Finally, State Street Corp increased its stake in shares of CCC Intelligent Solutions by 32.2% during the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company’s stock worth $82,284,000 after purchasing an additional 1,815,816 shares during the last quarter. 95.79% of the stock is owned by institutional investors.

Insider Activity at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $1,216,000. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the completion of the transaction, the director now owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. This trade represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. 6.67% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on CCCS. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Finally, Piper Sandler restated a “neutral” rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research note 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.14.

CCC Intelligent Solutions Stock Up 1.2 %

Shares of CCCS opened at $9.32 on Monday. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.83 and a 52 week high of $12.88. The firm has a market cap of $6.13 billion, a P/E ratio of 466.23 and a beta of 0.73. The firm’s 50-day simple moving average is $10.66 and its 200 day simple moving average is $11.14. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

CCC Intelligent Solutions declared that its Board of Directors has initiated 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 buy up to 4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.