Sellaronda Global Management LP Buys New Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Sellaronda Global Management LP acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,000,000 shares of the company's stock, valued at approximately $11,730,000. CCC Intelligent Solutions comprises approximately 11.8% of Sellaronda Global Management LP's holdings, making the stock its 3rd biggest position. Sellaronda Global Management LP owned 0.15% of CCC Intelligent Solutions at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Legal & General Group Plc grew its stake in shares of CCC Intelligent Solutions by 13.5% during the fourth quarter. Legal & General Group Plc now owns 424,741 shares of the company's stock worth $4,982,000 after buying an additional 50,359 shares during the last quarter. 2Xideas AG acquired a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at $2,524,000. Aster Capital Management DIFC Ltd bought a new stake in CCC Intelligent Solutions during the 4th quarter worth $726,000. Russell Investments Group Ltd. increased its holdings in CCC Intelligent Solutions by 2.3% in the 4th quarter. Russell Investments Group Ltd. now owns 515,372 shares of the company's stock worth $6,045,000 after purchasing an additional 11,785 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in CCC Intelligent Solutions by 37.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,712,578 shares of the company's stock valued at $31,819,000 after purchasing an additional 743,063 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Trading Up 2.0 %

Shares of CCCS traded up $0.18 during trading hours on Friday, hitting $8.99. 6,643,229 shares of the stock were exchanged, compared to its average volume of 4,569,625. The firm has a market capitalization of $5.91 billion, a P/E ratio of 449.72 and a beta of 0.77. 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 fifty-two week low of $8.14 and a fifty-two week high of $12.88. The business has a 50-day moving average of $9.64 and a 200-day moving average of $10.85.

CCC Intelligent Solutions announced that its board has approved a stock buyback plan on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, CAO Rodney Christo sold 20,077 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction, the director now owns 2,258,343 shares in the company, valued at $23,306,099.76. This represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,087,456 shares of company stock valued at $434,240,401 in the last ninety days. 6.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CCCS shares. Barrington Research restated an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Finally, Piper Sandler restated a "neutral" rating and issued a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions 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 company. Based on data from MarketBeat.com, CCC Intelligent Solutions 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.