Insider Selling: CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Sells 34,055 Shares of Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) Director Eileen Schloss sold 34,055 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $8.98, for a total value of $305,813.90. Following the sale, the director now directly owns 54,047 shares in the company, valued at $485,342.06. This trade represents a 38.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

CCC Intelligent Solutions Trading Up 0.4 %

Shares of NYSE CCCS traded up $0.04 during midday trading on Tuesday, reaching $9.19. 8,214,466 shares of the stock were exchanged, compared to its average volume of 4,125,919. The stock has a 50 day moving average price of $10.40 and a 200-day moving average price of $11.08. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.04 billion, a P/E ratio of 459.73 and a beta of 0.73. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.83 and a 52-week high of $12.88.

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

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Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Eagle Bay Advisors LLC acquired a new position in CCC Intelligent Solutions in the fourth quarter valued at $25,000. UMB Bank n.a. purchased a new stake in CCC Intelligent Solutions in the 4th quarter valued at about $28,000. TD Private Client Wealth LLC acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at about $31,000. Advisors Asset Management Inc. lifted its holdings 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 acquiring an additional 1,729 shares during the period. Finally, Quarry LP acquired a new stake in shares of CCC Intelligent Solutions in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

CCCS has been the subject of several research reports. 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 reiterated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, Piper Sandler reissued a "neutral" rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research note 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.14.

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.