Envestnet Portfolio Solutions Inc. Grows Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Envestnet Portfolio Solutions Inc. increased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 122.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,627 shares of the company's stock after purchasing an additional 39,986 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in CCC Intelligent Solutions were worth $852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its holdings in shares of CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company's stock worth $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 29.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company's stock worth $143,822,000 after buying an additional 2,752,950 shares during the period. Raymond James Financial Inc. acquired a new stake in CCC Intelligent Solutions in the 4th quarter worth about $31,020,000. Massachusetts Financial Services Co. MA grew 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 valued at $95,571,000 after buying an additional 2,272,336 shares during the period. Finally, State Street Corp increased its stake in shares of 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 acquiring an additional 1,815,816 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

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Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Eileen Schloss sold 34,055 shares of the firm's stock in a transaction 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 trade represents a 38.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares in the company, valued at $23,306,099.76. This trade represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,059,978 shares of company stock valued at $434,004,090 over the last three months. 6.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barrington Research reissued an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. JPMorgan Chase & Co. cut shares of 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 note on Wednesday, February 26th. Finally, Piper Sandler restated a "neutral" rating and set a $11.00 price objective (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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.14.

CCC Intelligent Solutions Trading Down 0.4 %

Shares of CCCS stock traded down $0.04 during mid-day trading on Thursday, reaching $9.07. The company's stock had a trading volume of 5,082,117 shares, compared to its average volume of 4,171,111. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $5.96 billion, a PE ratio of 453.73 and a beta of 0.73. The company's 50 day simple moving average is $10.33 and its 200-day simple moving average is $11.05. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.83 and a 12-month high of $12.88.

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

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.