Polen Capital Management LLC Sells 33,886 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Polen Capital Management LLC trimmed its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 762,304 shares of the company's stock after selling 33,886 shares during the quarter. Polen Capital Management LLC owned approximately 0.12% of CCC Intelligent Solutions worth $8,942,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Amalgamated Bank boosted its stake in CCC Intelligent Solutions by 5.8% during the third quarter. Amalgamated Bank now owns 23,722 shares of the company's stock worth $262,000 after acquiring an additional 1,299 shares in the last quarter. Principal Financial Group Inc. boosted its stake in CCC Intelligent Solutions by 4.9% during the third quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company's stock worth $292,654,000 after acquiring an additional 1,234,281 shares in the last quarter. Atria Investments Inc boosted its stake in CCC Intelligent Solutions by 13.6% during the third quarter. Atria Investments Inc now owns 77,427 shares of the company's stock worth $856,000 after acquiring an additional 9,287 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in CCC Intelligent Solutions by 12.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 183,835 shares of the company's stock worth $2,031,000 after acquiring an additional 21,017 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in CCC Intelligent Solutions by 5.2% during the third quarter. Victory Capital Management Inc. now owns 52,720 shares of the company's stock worth $583,000 after acquiring an additional 2,626 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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CCC Intelligent Solutions Stock Performance

NYSE CCCS traded down $0.14 during trading hours on Thursday, reaching $9.05. 8,695,041 shares of the company were exchanged, compared to its average volume of 4,073,497. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.83 and a 1 year high of $12.88. The business's 50 day simple moving average is $10.53 and its 200-day simple moving average is $11.10. 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 has a market capitalization of $5.95 billion, a P/E ratio of 452.73 and a beta of 0.73.

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

Insider Buying and Selling

In other news, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction dated 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 completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. 6.67% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on CCCS shares. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Piper Sandler reaffirmed a "neutral" rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.14.

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.