Envestnet Asset Management Inc. Purchases 743,063 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Envestnet Asset Management Inc. lifted its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 37.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,712,578 shares of the company's stock after purchasing an additional 743,063 shares during the period. Envestnet Asset Management Inc. owned 0.41% of CCC Intelligent Solutions worth $31,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth $25,000. UMB Bank n.a. purchased a new stake in CCC Intelligent Solutions in the fourth quarter worth about $28,000. TD Private Client Wealth LLC bought a new stake in CCC Intelligent Solutions during the 4th quarter valued at approximately $31,000. GAMMA Investing LLC grew its holdings 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 during the period. Finally, Financial Management Professionals Inc. bought a new position in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $54,000. Institutional investors own 95.79% of the company's stock.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the completion of the sale, the director now directly owns 54,047 shares of the company's stock, valued at approximately $485,342.06. This represents a 38.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,087,456 shares of company stock worth $434,240,401. Insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock traded down $0.10 during trading hours on Friday, reaching $8.67. The company 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 business has a fifty day moving average price of $9.47 and a 200-day moving average price of $10.79. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88. 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 announced that its Board of Directors has approved a share repurchase program on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several recent research reports. Barclays reduced their price target on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday. Morgan Stanley cut their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Piper Sandler reaffirmed a "neutral" rating and set a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Finally, Barrington Research reissued an "outperform" rating and issued 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.57.

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.