Wellington Management Group LLP Sells 334,806 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wellington Management Group LLP cut its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,944,446 shares of the company's stock after selling 334,806 shares during the quarter. Wellington Management Group LLP owned approximately 0.45% of CCC Intelligent Solutions worth $34,538,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CCCS. Teachers Retirement System of The State of Kentucky raised its stake in CCC Intelligent Solutions by 45.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company's stock valued at $1,824,000 after buying an additional 51,607 shares during the last quarter. Norman Fields Gottscho Capital Management LLC increased its holdings in shares of CCC Intelligent Solutions by 34.5% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company's stock valued at $4,663,000 after acquiring an additional 101,885 shares in the last quarter. Barclays PLC raised its position in shares of CCC Intelligent Solutions by 155.7% in the 3rd quarter. Barclays PLC now owns 109,020 shares of the company's stock worth $1,205,000 after purchasing an additional 66,386 shares during the last quarter. HighTower Advisors LLC boosted its stake in CCC Intelligent Solutions by 1,355.0% in the 3rd quarter. HighTower Advisors LLC now owns 602,797 shares of the company's stock worth $6,662,000 after purchasing an additional 561,367 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in CCC Intelligent Solutions by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company's stock valued at $5,016,000 after purchasing an additional 85,725 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Rodney Christo sold 5,846 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total transaction of $53,490.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eileen Schloss sold 27,478 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the transaction, the director now owns 26,569 shares in the company, valued at $228,493.40. The trade was a 50.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,087,456 shares of company stock valued at $434,240,401 in the last ninety days. 6.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CCCS has been the subject of several recent analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut 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. Finally, Barrington Research reiterated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $13.14.

CCC Intelligent Solutions Stock Performance

CCC Intelligent Solutions stock traded up $0.18 during midday trading on Friday, reaching $8.99. 6,643,229 shares of the company traded hands, compared to its average volume of 4,569,625. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. 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 business has a 50 day moving average of $9.64 and a two-hundred day moving average of $10.85. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 449.72 and a beta of 0.77.

CCC Intelligent Solutions announced that its board has approved a stock repurchase program on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

CCC Intelligent Solutions Company Profile

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.