Adero Partners LLC Sells 250,352 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Adero Partners LLC reduced its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,530,573 shares of the company's stock after selling 250,352 shares during the period. CCC Intelligent Solutions accounts for about 4.2% of Adero Partners LLC's investment portfolio, making the stock its 6th largest position. Adero Partners LLC owned about 0.84% of CCC Intelligent Solutions worth $64,874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CCCS. Conestoga Capital Advisors LLC increased its stake in CCC Intelligent Solutions by 29.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company's stock valued at $143,822,000 after purchasing an additional 2,752,950 shares during the last quarter. Berry Wealth Group LP increased its stake in shares of CCC Intelligent Solutions by 5.8% during the 4th quarter. Berry Wealth Group LP now owns 20,224 shares of the company's stock valued at $237,000 after acquiring an additional 1,109 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of CCC Intelligent Solutions by 21.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 17,686 shares of the company's stock worth $203,000 after acquiring an additional 3,090 shares during the last quarter. Norris Perne & French LLP MI boosted its position in shares of CCC Intelligent Solutions by 11.0% in the fourth quarter. Norris Perne & French LLP MI now owns 378,769 shares of the company's stock worth $4,443,000 after acquiring an additional 37,402 shares during the last quarter. Finally, KBC Group NV grew its holdings in CCC Intelligent Solutions by 55.9% in the fourth quarter. KBC Group NV now owns 16,075 shares of the company's stock valued at $189,000 after purchasing an additional 5,761 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Piper Sandler reaffirmed a "neutral" rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Barrington Research restated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Finally, Barclays decreased their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 75,000 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Jo Prigge sold 2,489 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the transaction, the insider now directly owns 97,268 shares in the company, valued at approximately $1,167,216. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 433,805 shares of company stock valued at $5,283,361. Corporate insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Stock Down 1.1 %

Shares of NYSE:CCCS traded down $0.12 during mid-day trading on Friday, hitting $10.97. 3,563,638 shares of the company traded hands, compared to its average volume of 4,284,187. The firm's 50 day simple moving average is $11.66 and its 200 day simple moving average is $11.21. The firm has a market cap of $7.20 billion, a P/E ratio of 73.93 and a beta of 0.71. 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 Holdings Inc. has a 52-week low of $9.79 and a 52-week high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has authorized a stock buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are 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.