LPL Financial LLC Acquires 116,474 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

LPL Financial LLC grew its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 290.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,577 shares of the company's stock after purchasing an additional 116,474 shares during the period. LPL Financial LLC's holdings in CCC Intelligent Solutions were worth $1,837,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter worth about $25,000. UMB Bank n.a. bought a new stake in CCC Intelligent Solutions during the fourth quarter worth about $28,000. TD Private Client Wealth LLC acquired a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $31,000. GAMMA Investing LLC grew its stake in CCC Intelligent Solutions by 286.9% in the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock valued at $39,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Financial Management Professionals Inc. acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $54,000. 95.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCCS has been the subject of several analyst reports. Barclays decreased their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Piper Sandler reissued 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. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Morgan Stanley cut their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the company 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 four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.57.

Insider Activity

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction dated 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 owns 2,258,343 shares in the company, valued at $23,306,099.76. The trade was a 94.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of the 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. Over the last quarter, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock traded down $0.10 during trading hours on Friday, hitting $8.67. The company had a trading volume of 5,520,858 shares, compared to its average volume of 4,639,754. The firm has a 50-day moving average of $9.42 and a 200 day moving average of $10.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market cap of $5.71 billion, a PE ratio of 433.72 and a beta of 0.77. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88.

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.