CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock Position Increased by Bessemer Group Inc.

Bessemer Group Inc. raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,758,786 shares of the company's stock after acquiring an additional 2,642,470 shares during the quarter. Bessemer Group Inc. owned approximately 1.49% of CCC Intelligent Solutions worth $114,470,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. DRW Securities LLC acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at $253,000. Raymond James Financial Inc. purchased a new stake in CCC Intelligent Solutions during the fourth quarter worth $31,020,000. Sellaronda Global Management LP purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at $11,730,000. Legal & General Group Plc increased its stake in shares of CCC Intelligent Solutions by 13.5% during the 4th quarter. Legal & General Group Plc now owns 424,741 shares of the company's stock worth $4,982,000 after purchasing an additional 50,359 shares in the last quarter. Finally, 2Xideas AG acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $2,524,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays decreased their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barrington Research reissued an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $11.00 target price (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 assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.86.

CCC Intelligent Solutions Stock Down 0.9 %

CCCS stock traded down $0.08 during midday trading on Tuesday, hitting $8.85. 1,291,704 shares of the company's stock were exchanged, compared to its average volume of 4,574,486. The firm has a 50 day moving average price of $9.60 and a 200-day moving average price of $10.84. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 442.72 and a beta of 0.77. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

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

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 5,846 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total value of $53,490.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eileen Schloss sold 34,055 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the transaction, the director now owns 54,047 shares of the company's stock, valued at $485,342.06. This represents a 38.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last three months. 6.67% of the stock is owned by insiders.

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.