CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Holdings Lowered by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 54.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,991 shares of the company's stock after selling 30,857 shares during the quarter. SG Americas Securities LLC's holdings in CCC Intelligent Solutions were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCCS. Principal Financial Group Inc. lifted its position in CCC Intelligent Solutions by 4.9% in the third quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company's stock valued at $292,654,000 after purchasing an additional 1,234,281 shares during the period. Wasatch Advisors LP lifted its stake in CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company's stock valued at $158,358,000 after purchasing an additional 4,716,587 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in CCC Intelligent Solutions by 18.7% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 9,508,085 shares of the company's stock worth $105,064,000 after buying an additional 1,498,200 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in CCC Intelligent Solutions by 35.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company's stock worth $95,571,000 after acquiring an additional 2,272,336 shares during the period. Finally, State Street Corp lifted its holdings in CCC Intelligent Solutions by 32.2% during the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company's stock valued at $82,284,000 after purchasing an additional 1,815,816 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

CCC Intelligent Solutions Stock Down 1.1 %

NYSE:CCCS traded down $0.12 during trading hours on Friday, reaching $10.97. 3,563,638 shares of the company traded hands, compared to its average volume of 4,284,187. 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 Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.88. The stock has a market capitalization of $7.20 billion, a P/E ratio of 548.77 and a beta of 0.71. The business's 50-day moving average price is $11.66 and its two-hundred day moving average price is $11.21.

CCC Intelligent Solutions declared that its board has authorized a share buyback plan on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to buy up to 4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCCS. Piper Sandler restated a "neutral" rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Barrington Research reissued an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Barclays dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $13.89.

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 97,511 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $12.01, for a total value of $1,171,107.11. Following the sale, the insider now directly owns 97,268 shares in the company, valued at $1,168,188.68. This trade represents a 50.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the transaction, the director now owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 433,805 shares of company stock valued at $5,283,361 in the last quarter. 6.67% of the stock is currently owned by corporate 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.