AGF Management Ltd. Lowers Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

AGF Management Ltd. decreased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 28.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,558 shares of the company's stock after selling 83,126 shares during the quarter. AGF Management Ltd.'s holdings in CCC Intelligent Solutions were worth $2,399,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Adero Partners LLC raised its stake in shares of CCC Intelligent Solutions by 118.5% during the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company's stock valued at $63,879,000 after acquiring an additional 3,135,650 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in CCC Intelligent Solutions by 45.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company's stock valued at $1,824,000 after purchasing an additional 51,607 shares in the last quarter. Norman Fields Gottscho Capital Management LLC lifted its holdings in shares of CCC Intelligent Solutions by 34.5% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company's stock worth $4,663,000 after buying an additional 101,885 shares during the period. Barclays PLC grew its position in shares of CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company's stock worth $1,205,000 after buying an additional 66,386 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of CCC Intelligent Solutions by 12.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 558,595 shares of the company's stock worth $6,172,000 after buying an additional 61,660 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 20,077 shares of the firm'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Crescenzo Neil E. De bought 100,000 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company's stock, valued at approximately $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Stock Up 0.9 %

Shares of NYSE:CCCS traded up $0.08 during trading on Monday, reaching $9.40. The stock had a trading volume of 6,941,420 shares, compared to its average volume of 6,424,920. 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 has a market capitalization of $6.18 billion, a P/E ratio of 470.24 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. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.82 and a one year high of $12.88.

CCC Intelligent Solutions declared that its board has initiated a share repurchase plan on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on CCCS shares. Piper Sandler reaffirmed a "neutral" rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut 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 research report on Wednesday, February 26th. Finally, Barrington Research reiterated an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.