Resona Asset Management Co. Ltd. Makes New Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Resona Asset Management Co. Ltd. purchased a new position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 74,232 shares of the company's stock, valued at approximately $871,000.

A number of other institutional investors also recently bought and sold shares of CCCS. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of CCC Intelligent Solutions by 45.5% in the 3rd 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 during the last quarter. Norman Fields Gottscho Capital Management LLC lifted its position in CCC Intelligent Solutions by 34.5% during 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 purchasing an additional 101,885 shares during the period. Barclays PLC boosted 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 purchasing an additional 66,386 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 purchasing an additional 85,725 shares during the period. Finally, UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at about $28,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Price Performance

NYSE CCCS traded up $0.05 on Wednesday, hitting $8.89. The company had a trading volume of 1,125,610 shares, compared to its average volume of 7,346,968. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company has a market capitalization of $5.85 billion, a PE ratio of 444.47 and a beta of 0.77. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The company's fifty day moving average price is $9.56 and its 200-day moving average price is $10.82.

CCC Intelligent Solutions declared that its Board of Directors has authorized 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 purchase up to 4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CCCS shares. Barrington Research restated an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Piper Sandler reaffirmed a "neutral" rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Barclays dropped their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.57.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 27,478 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the transaction, the director now owns 26,569 shares of the company's stock, valued at $228,493.40. This represents a 50.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Rodney Christo sold 5,846 shares of CCC Intelligent Solutions 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 disclosure for this sale can be found here. Insiders sold a total of 42,087,456 shares of company stock worth $434,240,401 in the last 90 days. 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.