Advantage Alpha Capital Partners LP Has $4.31 Million Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Advantage Alpha Capital Partners LP trimmed its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 20.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 367,202 shares of the company's stock after selling 92,898 shares during the quarter. Advantage Alpha Capital Partners LP owned approximately 0.06% of CCC Intelligent Solutions worth $4,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in CCC Intelligent Solutions by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company's stock valued at $292,654,000 after purchasing an additional 1,234,281 shares during the period. Victory Capital Management Inc. raised its holdings in shares of CCC Intelligent Solutions by 5.2% during the third quarter. Victory Capital Management Inc. now owns 52,720 shares of the company's stock valued at $583,000 after buying an additional 2,626 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of CCC Intelligent Solutions by 22.5% during the third quarter. Natixis Advisors LLC now owns 305,321 shares of the company's stock worth $3,374,000 after buying an additional 56,147 shares during the period. Swiss National Bank boosted its position in shares of CCC Intelligent Solutions by 30.6% during the third quarter. Swiss National Bank now owns 788,900 shares of the company's stock worth $8,717,000 after buying an additional 184,900 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in CCC Intelligent Solutions by 153.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company's stock worth $32,000 after buying an additional 1,729 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Remove Ads

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock traded down $0.15 during midday trading on Friday, hitting $8.92. The company's stock had a trading volume of 7,814,743 shares, compared to its average volume of 4,265,704. 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 quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $5.87 billion, a PE ratio of 446.22 and a beta of 0.73. The stock's 50-day moving average price is $10.24 and its 200-day moving average price is $11.03.

CCC Intelligent Solutions announced that its board has initiated a stock buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes 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 management believes its shares are undervalued.

Insider Transactions at CCC Intelligent Solutions

In related news, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.98, for a total value of $305,813.90. Following the transaction, the director now directly owns 54,047 shares in the company, valued at $485,342.06. The trade was a 38.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rodney Christo sold 20,077 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. Insiders have sold 42,059,978 shares of company stock valued at $434,004,090 in the last quarter. Insiders own 6.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CCCS shares. Piper Sandler reiterated a "neutral" rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Finally, Barrington Research reissued an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.14.

CCC Intelligent Solutions Company 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.