CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Amundi

Amundi decreased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 85.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,659 shares of the company's stock after selling 112,834 shares during the period. Amundi's holdings in CCC Intelligent Solutions were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CCCS. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of CCC Intelligent Solutions by 15.3% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,332,305 shares of the company's stock worth $15,862,000 after buying an additional 176,939 shares during the period. Marco Investment Management LLC grew its position in CCC Intelligent Solutions by 29.8% in the 4th quarter. Marco Investment Management LLC now owns 13,275 shares of the company's stock valued at $156,000 after acquiring an additional 3,050 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth $31,020,000. Arizona State Retirement System lifted its position in shares of CCC Intelligent Solutions by 1.0% during the fourth quarter. Arizona State Retirement System now owns 117,507 shares of the company's stock worth $1,378,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in shares of CCC Intelligent Solutions by 22.2% during the fourth quarter. Atria Investments Inc now owns 94,585 shares of the company's stock valued at $1,109,000 after purchasing an additional 17,158 shares during the period. Hedge funds and other institutional investors own 95.79% of the company's stock.

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CCC Intelligent Solutions Stock Up 0.4 %

Shares of NYSE:CCCS traded up $0.04 during trading hours on Tuesday, hitting $9.19. The company's stock had a trading volume of 8,214,466 shares, compared to its average volume of 4,125,919. The firm's fifty day moving average price is $10.40 and its 200 day moving average price is $11.08. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.83 and a 52 week high of $12.88. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 459.73 and a beta of 0.73. 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 announced that its Board of Directors has authorized a stock buyback plan on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the 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 sale, the director now directly owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. Insiders have sold a total of 42,054,132 shares of company stock valued at $433,950,599 over the last ninety days. 6.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Piper Sandler reaffirmed a "neutral" rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Finally, Barrington Research reiterated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.