Granite Investment Partners LLC Has $9.74 Million Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Granite Investment Partners LLC reduced its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 830,643 shares of the company's stock after selling 69,067 shares during the period. Granite Investment Partners LLC owned approximately 0.13% of CCC Intelligent Solutions worth $9,743,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of brokerages recently commented on CCCS. Morgan Stanley decreased their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday. Piper Sandler reaffirmed a "neutral" rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barclays reduced their target price on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Barrington Research restated an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $12.57.

Insider Buying and Selling

In other news, Director Eric Wei sold 42,000,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction 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 $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total transaction of $236,310.80. Following the sale, the director now directly owns 26,569 shares in the company, valued at $228,493.40. This trade represents a 50.84 % 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 in the last three months. Insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Trading Down 1.1 %

NYSE CCCS traded down $0.10 on Friday, hitting $8.67. The company's stock had a trading volume of 5,520,858 shares, compared to its average volume of 4,625,789. The firm has a market cap of $5.71 billion, a PE ratio of 433.72 and a beta of 0.77. The company's 50-day moving average is $9.47 and its 200 day moving average is $10.79. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.14 and a 1-year high of $12.88.

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

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.