Edmond DE Rothschild Holding S.A. raised its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 66.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,219,470 shares of the company's stock after acquiring an additional 2,492,900 shares during the quarter. CCC Intelligent Solutions makes up about 1.2% of Edmond DE Rothschild Holding S.A.'s holdings, making the stock its 16th biggest holding. Edmond DE Rothschild Holding S.A. owned about 0.95% of CCC Intelligent Solutions worth $72,954,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Eagle Bay Advisors LLC acquired a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $25,000. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $28,000. TD Private Client Wealth LLC purchased a new position in CCC Intelligent Solutions in the fourth quarter worth $31,000. Advisors Asset Management Inc. boosted its position in shares of CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company's stock worth $32,000 after purchasing an additional 1,729 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of CCC Intelligent Solutions by 286.9% during the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock worth $39,000 after acquiring an additional 2,479 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at CCC Intelligent Solutions
In related news, CAO Rodney Christo sold 5,846 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total value of $53,490.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the firm's stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,059,978 shares of company stock worth $434,004,090. 6.67% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on CCCS shares. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Barrington Research restated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.14.
View Our Latest Stock Report on CCCS
CCC Intelligent Solutions Stock Performance
Shares of NYSE CCCS traded down $0.03 during trading on Friday, reaching $8.57. The stock had a trading volume of 6,175,924 shares, compared to its average volume of 4,380,101. The firm's 50 day moving average price is $10.04 and its two-hundred day moving average price is $10.98. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.25 and a one year high of $12.88. The stock has a market cap of $5.63 billion, a PE ratio of 428.46 and a beta of 0.73. 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 has initiated a stock buyback program on Friday, December 20th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.
CCC Intelligent Solutions Profile
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Free Report)
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.
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