CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Sells $204,785.40 in Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

CCC Intelligent Solutions Stock Down 1.8 %

NYSE:CCCS traded down $0.17 during mid-day trading on Friday, reaching $9.19. The company's stock had a trading volume of 6,274,611 shares, compared to its average volume of 5,607,948. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.04 billion, a PE ratio of 459.83 and a beta of 0.73. The stock has a fifty day moving average of $10.96 and a 200-day moving average of $11.20. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.98 and a 1 year high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has initiated a stock buyback plan on Friday, December 20th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

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Institutional Trading of CCC Intelligent Solutions

A number of hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its holdings in shares of CCC Intelligent Solutions by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock valued at $807,807,000 after buying an additional 4,060,284 shares in the last quarter. Vanguard Group Inc. boosted its stake in CCC Intelligent Solutions by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock valued at $602,772,000 after acquiring an additional 847,334 shares in the last quarter. Principal Financial Group Inc. grew its holdings in CCC Intelligent Solutions by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company's stock worth $316,001,000 after purchasing an additional 455,040 shares during the last quarter. Wasatch Advisors LP increased its position in shares of CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company's stock worth $158,358,000 after purchasing an additional 4,716,587 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of CCC Intelligent Solutions by 2.2% during the 4th quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company's stock valued at $164,613,000 after purchasing an additional 299,943 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.