Investment House LLC Raises Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Investment House LLC increased its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 54.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 515,820 shares of the company's stock after purchasing an additional 181,600 shares during the quarter. Investment House LLC owned 0.08% of CCC Intelligent Solutions worth $6,051,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Baker Tilly Wealth Management LLC lifted its stake in shares of CCC Intelligent Solutions by 6.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company's stock worth $169,000 after purchasing an additional 888 shares during the period. Central Pacific Bank Trust Division increased its holdings in CCC Intelligent Solutions by 6.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company's stock valued at $197,000 after buying an additional 960 shares during the last quarter. CIBC Asset Management Inc raised its position in CCC Intelligent Solutions by 5.9% in the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company's stock worth $223,000 after acquiring an additional 1,054 shares during the period. Berry Wealth Group LP boosted its stake in shares of CCC Intelligent Solutions by 5.8% during the 4th quarter. Berry Wealth Group LP now owns 20,224 shares of the company's stock worth $237,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of CCC Intelligent Solutions by 1.0% during the 4th quarter. Arizona State Retirement System now owns 117,507 shares of the company's stock worth $1,378,000 after acquiring an additional 1,150 shares during the last quarter. Institutional investors own 95.79% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CCCS shares. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. 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 research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut 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 report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.14.

CCC Intelligent Solutions Price Performance

CCCS stock traded down $0.05 during trading on Friday, reaching $9.00. The company's stock had a trading volume of 11,209,889 shares, compared to its average volume of 4,116,592. 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 company's fifty day moving average is $10.44 and its 200-day moving average is $11.08. The company has a market capitalization of $5.92 billion, a P/E ratio of 450.23 and a beta of 0.73. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.83 and a 1 year high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has approved 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 repurchase up to 4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the business'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 owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eileen Schloss sold 34,055 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $8.98, for a total transaction of $305,813.90. Following the transaction, the director now owns 54,047 shares of the company's stock, valued at approximately $485,342.06. This represents a 38.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,054,132 shares of company stock valued at $433,950,599 over the last 90 days. Company insiders own 6.67% of the company's stock.

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.