CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,281,891 shares of the company's stock after acquiring an additional 77,631 shares during the quarter. Geode Capital Management LLC owned 1.11% of CCC Intelligent Solutions worth $85,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in CCC Intelligent Solutions by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock valued at $602,772,000 after buying an additional 847,334 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of CCC Intelligent Solutions by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company's stock valued at $316,001,000 after buying an additional 455,040 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of CCC Intelligent Solutions by 29.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company's stock valued at $143,822,000 after purchasing an additional 2,752,950 shares during the period. State Street Corp grew its holdings in CCC Intelligent Solutions by 32.2% in the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company's stock valued at $82,284,000 after buying an additional 1,815,816 shares during the period. Finally, GW&K Investment Management LLC increased its stake in shares of CCC Intelligent Solutions by 1.8% during the 4th quarter. GW&K Investment Management LLC now owns 6,821,079 shares of the company's stock valued at $80,011,000 after acquiring an additional 117,407 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Insider Activity

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of the business's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. Insiders own 6.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Monday. Piper Sandler restated a "neutral" rating and issued a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barrington Research restated an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered 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 report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.86.

CCC Intelligent Solutions Stock Performance

CCCS stock traded up $0.06 during mid-day trading on Wednesday, reaching $8.90. The company had a trading volume of 823,415 shares, compared to its average volume of 4,579,823. The stock's 50-day simple moving average is $9.56 and its two-hundred day simple moving average is $10.82. The stock has a market capitalization of $5.86 billion, a P/E ratio of 444.42 and a beta of 0.77. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has initiated a share repurchase plan on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board 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.