CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,939,551 shares of the company's stock after buying an additional 455,040 shares during the quarter. Principal Financial Group Inc. owned 4.11% of CCC Intelligent Solutions worth $316,001,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new position in CCC Intelligent Solutions in the fourth quarter valued at about $25,000. UMB Bank n.a. bought a new position in CCC Intelligent Solutions in the fourth quarter valued at about $28,000. Advisors Asset Management Inc. raised its position 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 during the last quarter. GAMMA Investing LLC raised its position in CCC Intelligent Solutions by 286.9% in the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock valued at $39,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new position in CCC Intelligent Solutions in the fourth quarter valued at about $54,000. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Price Performance

Shares of CCCS traded down $0.01 during midday trading on Thursday, reaching $10.57. The stock had a trading volume of 5,131,375 shares, compared to its average volume of 4,115,412. The company's 50-day moving average is $11.37 and its 200 day moving average is $11.22. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 528.76 and a beta of 0.71.

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

Insider Transactions at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 65,084 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.52, for a total value of $814,851.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Jo Prigge sold 80,724 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $12.52, for a total value of $1,010,664.48. Following the completion of the sale, the insider now owns 97,268 shares of the company's stock, valued at approximately $1,217,795.36. This trade represents a 45.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 175,000 shares of company stock worth $2,195,379. 6.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.