CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stake Raised by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 15.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,332,305 shares of the company's stock after purchasing an additional 176,939 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.20% of CCC Intelligent Solutions worth $15,862,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in CCC Intelligent Solutions by 5.8% in the third quarter. Amalgamated Bank now owns 23,722 shares of the company's stock valued at $262,000 after acquiring an additional 1,299 shares during the period. Principal Financial Group Inc. boosted its position in shares of CCC Intelligent Solutions by 4.9% during the third quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company's stock worth $292,654,000 after acquiring an additional 1,234,281 shares during the last quarter. Atria Investments Inc increased its holdings in shares of CCC Intelligent Solutions by 13.6% in the third quarter. Atria Investments Inc now owns 77,427 shares of the company's stock worth $856,000 after purchasing an additional 9,287 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of CCC Intelligent Solutions by 12.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 183,835 shares of the company's stock worth $2,031,000 after acquiring an additional 21,017 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of CCC Intelligent Solutions by 5.2% in the 3rd quarter. Victory Capital Management Inc. now owns 52,720 shares of the company's stock worth $583,000 after buying an additional 2,626 shares in the last quarter. Institutional investors own 95.79% of the company's stock.

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CCC Intelligent Solutions Stock Down 0.8 %

Shares of NYSE:CCCS traded down $0.07 during trading on Wednesday, hitting $9.13. 12,996,751 shares of the company were exchanged, compared to its average volume of 3,944,394. 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 12-month low of $8.83 and a 12-month high of $12.88. The stock has a market capitalization of $6.00 billion, a P/E ratio of 456.73 and a beta of 0.73. The firm's 50 day moving average price is $10.80 and its 200-day moving average price is $11.17.

CCC Intelligent Solutions declared that its board has approved a stock buyback 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 generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CCCS shares. Barrington Research restated an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Morgan Stanley upgraded CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Piper Sandler restated a "neutral" rating and issued a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, CCC Intelligent Solutions has an average rating of "Moderate Buy" and a consensus target price of $13.38.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Eric Wei sold 42,000,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the sale, the director now directly owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of the company's stock in a transaction dated 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. 6.67% of the stock is owned by corporate insiders.

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.