Aster Capital Management DIFC Ltd acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 61,930 shares of the company's stock, valued at approximately $726,000.
Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake 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 valued at $6,045,000 after purchasing an additional 11,785 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of CCC Intelligent Solutions by 37.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,712,578 shares of the company's stock worth $31,819,000 after buying an additional 743,063 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in CCC Intelligent Solutions during the fourth quarter valued at about $871,000. Wells Fargo & Company MN increased its holdings in CCC Intelligent Solutions by 3.0% during the fourth quarter. Wells Fargo & Company MN now owns 903,510 shares of the company's stock worth $10,598,000 after buying an additional 26,694 shares during the last quarter. Finally, Pamalican Asset Management Ltd bought a new stake in CCC Intelligent Solutions in the fourth quarter worth about $33,773,000. Institutional investors own 95.79% of the company's stock.
CCC Intelligent Solutions Stock Performance
Shares of CCC Intelligent Solutions stock traded up $0.08 during trading hours on Friday, reaching $8.89. The company had a trading volume of 2,083,678 shares, compared to its average volume of 4,544,269. 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 one year low of $8.14 and a one year high of $12.88. The firm has a market cap of $5.85 billion, a PE ratio of 443.97 and a beta of 0.77. The business has a fifty day simple moving average of $9.68 and a 200 day simple moving average of $10.87.
CCC Intelligent Solutions declared that its Board of Directors has approved a share buyback program on Friday, December 20th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on CCCS shares. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Barrington Research restated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Finally, 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 note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $13.14.
Check Out Our Latest Analysis on CCCS
Insiders Place Their Bets
In other CCC Intelligent Solutions news, Director Eileen Schloss sold 27,478 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the completion of the transaction, the director now directly owns 26,569 shares of the company's stock, valued at $228,493.40. This trade represents a 50.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rodney Christo sold 5,846 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total transaction of $53,490.90. The disclosure for this sale can be found here. Insiders sold a total of 42,087,456 shares of company stock worth $434,240,401 in the last quarter. 6.67% of the stock is owned by company insiders.
About CCC Intelligent Solutions
(
Free Report)
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.
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