CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 753.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,873,418 shares of the company's stock after purchasing an additional 3,419,507 shares during the period. JPMorgan Chase & Co. owned about 0.59% of CCC Intelligent Solutions worth $45,435,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC boosted its holdings in CCC Intelligent Solutions by 33.2% in the fourth quarter. EntryPoint Capital LLC now owns 25,453 shares of the company's stock worth $299,000 after purchasing an additional 6,342 shares during the period. Segall Bryant & Hamill LLC lifted its position in shares of CCC Intelligent Solutions by 3.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,402,390 shares of the company's stock worth $16,450,000 after buying an additional 48,399 shares during the last quarter. Cannon Global Investment Management LLC boosted its holdings in shares of CCC Intelligent Solutions by 5.9% in the 4th quarter. Cannon Global Investment Management LLC now owns 54,000 shares of the company's stock valued at $633,000 after buying an additional 3,000 shares during the period. Summit Creek Advisors LLC boosted its holdings in shares of CCC Intelligent Solutions by 0.3% in the 4th quarter. Summit Creek Advisors LLC now owns 2,142,150 shares of the company's stock valued at $25,127,000 after buying an additional 6,403 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of CCC Intelligent Solutions by 1.7% during 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 during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eileen Schloss sold 34,055 shares of the company'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 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 disclosure for this sale can be found here. Insiders have sold 42,087,456 shares of company stock valued at $434,240,401 in the last quarter. Corporate insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS traded up $0.18 during midday trading on Friday, hitting $8.99. 6,643,229 shares of the company's stock were exchanged, compared to its average volume of 4,569,625. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88. The firm has a market cap of $5.91 billion, a P/E ratio of 449.72 and a beta of 0.77. The stock's 50 day moving average price is $9.64 and its 200-day moving average price is $10.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

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

Analysts Set New Price Targets

A number of brokerages have commented on CCCS. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Piper Sandler reissued 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. Finally, Barrington Research restated an "outperform" rating and set a $14.00 price objective 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 given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.14.

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.