2,879,206 Shares in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Purchased by Pamalican Asset Management Ltd

Pamalican Asset Management Ltd acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,879,206 shares of the company's stock, valued at approximately $33,773,000. CCC Intelligent Solutions accounts for about 15.0% of Pamalican Asset Management Ltd's investment portfolio, making the stock its largest position. Pamalican Asset Management Ltd owned approximately 0.44% of CCC Intelligent Solutions as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its stake in shares of CCC Intelligent Solutions by 45.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company's stock valued at $1,824,000 after acquiring an additional 51,607 shares in the last quarter. Norman Fields Gottscho Capital Management LLC raised its holdings in CCC Intelligent Solutions by 34.5% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company's stock valued at $4,663,000 after acquiring an additional 101,885 shares in the last quarter. Barclays PLC raised its holdings in CCC Intelligent Solutions by 155.7% in the third quarter. Barclays PLC now owns 109,020 shares of the company's stock valued at $1,205,000 after acquiring an additional 66,386 shares in the last quarter. HighTower Advisors LLC boosted its stake in CCC Intelligent Solutions by 1,355.0% during the 3rd quarter. HighTower Advisors LLC now owns 602,797 shares of the company's stock valued at $6,662,000 after acquiring an additional 561,367 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in CCC Intelligent Solutions by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company's stock worth $5,016,000 after acquiring an additional 85,725 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 5,846 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total value of $53,490.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eileen Schloss sold 34,055 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the completion of the sale, the director now owns 54,047 shares in the company, 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 a total of 42,087,456 shares of company stock worth $434,240,401 in the last ninety days. 6.67% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CCCS. Barrington Research reiterated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Piper Sandler reiterated a "neutral" rating and issued a $11.00 target price (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 reduced their price objective for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.14.

CCC Intelligent Solutions Stock Performance

CCCS stock traded up $0.22 during mid-day trading on Wednesday, reaching $8.50. The company had a trading volume of 2,629,743 shares, compared to its average volume of 7,385,176. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.14 and a one year high of $12.88. The stock has a market capitalization of $5.59 billion, a P/E ratio of 424.96 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. The stock's 50-day simple moving average is $9.81 and its two-hundred day simple moving average is $10.91.

CCC Intelligent Solutions declared that its board has initiated a stock repurchase plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.