Sanctuary Advisors LLC Grows Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Sanctuary Advisors LLC boosted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 228.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,366 shares of the company's stock after purchasing an additional 28,070 shares during the quarter. Sanctuary Advisors LLC's holdings in CCC Intelligent Solutions were worth $451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCCS. Stephens Inc. AR increased its holdings in shares of CCC Intelligent Solutions by 47.1% in the third quarter. Stephens Inc. AR now owns 25,296 shares of the company's stock valued at $280,000 after purchasing an additional 8,103 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of CCC Intelligent Solutions by 1.6% during the 3rd quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company's stock worth $26,201,000 after acquiring an additional 36,867 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of CCC Intelligent Solutions by 15.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 14,596 shares of the company's stock valued at $162,000 after acquiring an additional 1,957 shares during the last quarter. Janney Capital Management LLC purchased a new stake in shares of CCC Intelligent Solutions in the third quarter valued at about $321,000. Finally, Harbor Capital Advisors Inc. increased its position in CCC Intelligent Solutions by 67.2% during the third quarter. Harbor Capital Advisors Inc. now owns 340,397 shares of the company's stock worth $3,761,000 after purchasing an additional 136,854 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

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CCC Intelligent Solutions Trading Down 2.3 %

NYSE CCCS traded down $0.23 during trading on Thursday, hitting $9.50. The stock had a trading volume of 5,086,046 shares, compared to its average volume of 5,414,152. 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 company has a market capitalization of $6.24 billion, a PE ratio of 474.99 and a beta of 0.71. The firm has a 50 day moving average price of $11.01 and a 200 day moving average price of $11.21. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.46 and a twelve month high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has approved a share buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity at CCC Intelligent Solutions

In related news, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction on Monday, March 3rd. The stock was 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 directly owns 2,258,343 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. Company insiders own 6.67% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CCCS shares. Barrington Research reissued an "outperform" rating and issued a $14.00 price target 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 decreased their price target for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Piper Sandler reissued a "neutral" rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.38.

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.