Norris Perne & French LLP MI Has $4.44 Million Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Norris Perne & French LLP MI boosted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 378,769 shares of the company's stock after buying an additional 37,402 shares during the period. Norris Perne & French LLP MI owned approximately 0.06% of CCC Intelligent Solutions worth $4,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at $25,000. UMB Bank n.a. purchased a new position in CCC Intelligent Solutions in the fourth quarter valued at about $28,000. Advisors Asset Management Inc. grew its stake in CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company's stock valued at $32,000 after purchasing an additional 1,729 shares in the last quarter. GAMMA Investing LLC increased its position in CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock worth $39,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of CCC Intelligent Solutions during the 4th quarter worth about $54,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Performance

CCCS traded down $0.01 during midday trading on Tuesday, reaching $10.94. The company's stock had a trading volume of 3,573,451 shares, compared to its average volume of 4,197,963. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.88. The stock has a market cap of $7.18 billion, a P/E ratio of 547.52 and a beta of 0.71. The company has a fifty day simple moving average of $11.78 and a 200 day simple moving average of $11.22. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions declared that its Board of Directors has initiated a stock buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on CCCS shares. JPMorgan Chase & Co. increased their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Barrington Research restated an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Barclays lowered their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Finally, Piper Sandler restated a "neutral" rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $13.89.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 9,348 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the sale, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the company's stock in a transaction on Friday, December 20th. The shares were bought at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares of the company's stock, valued at approximately $1,216,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 443,153 shares of company stock valued at $5,390,863 in the last ninety days. Company insiders own 6.67% of the company's stock.

CCC Intelligent Solutions 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.