Corient Private Wealth LLC Acquires 80,459 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Corient Private Wealth LLC increased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 130.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,208 shares of the company's stock after acquiring an additional 80,459 shares during the period. Corient Private Wealth LLC's holdings in CCC Intelligent Solutions were worth $1,668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCCS. Envestnet Portfolio Solutions Inc. lifted its position in CCC Intelligent Solutions by 122.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 72,627 shares of the company's stock worth $852,000 after buying an additional 39,986 shares in the last quarter. Natixis Advisors LLC grew its stake in CCC Intelligent Solutions by 7.8% in the fourth quarter. Natixis Advisors LLC now owns 329,009 shares of the company's stock valued at $3,859,000 after purchasing an additional 23,688 shares in the last quarter. Swiss National Bank increased its position in shares of CCC Intelligent Solutions by 1.0% during the 4th quarter. Swiss National Bank now owns 797,000 shares of the company's stock worth $9,349,000 after purchasing an additional 8,100 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of CCC Intelligent Solutions by 5.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 28,625 shares of the company's stock worth $336,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CCC Intelligent Solutions by 34.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,196 shares of the company's stock valued at $1,187,000 after buying an additional 25,702 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

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CCC Intelligent Solutions Stock Performance

CCCS traded down $0.15 on Friday, reaching $8.92. The company had a trading volume of 7,814,743 shares, compared to its average volume of 4,259,682. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $12.88. The stock has a market cap of $5.87 billion, a P/E ratio of 446.22 and a beta of 0.73. The company's fifty day moving average is $10.29 and its 200 day moving average is $11.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

CCC Intelligent Solutions declared that its Board of Directors has initiated a stock repurchase program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 20,077 shares of the firm'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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the completion of the transaction, the director now directly owns 2,258,343 shares of the company's stock, valued at $23,306,099.76. This trade represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,059,978 shares of company stock valued at $434,004,090 in the last ninety days. 6.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CCCS has been the topic of a number of recent analyst reports. Piper Sandler restated a "neutral" rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barrington Research reiterated 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, JPMorgan Chase & Co. cut CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

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.