T. Rowe Price Investment Management Inc. Raises Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

T. Rowe Price Investment Management Inc. raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,866,717 shares of the company's stock after buying an additional 4,060,284 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 10.49% of CCC Intelligent Solutions worth $807,807,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter worth about $25,000. UMB Bank n.a. purchased a new position in CCC Intelligent Solutions in the 4th quarter worth approximately $28,000. TD Private Client Wealth LLC bought a new position in shares of CCC Intelligent Solutions in the 4th quarter worth $31,000. GAMMA Investing LLC grew 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 worth $39,000 after acquiring an additional 2,479 shares in the last quarter. Finally, Financial Management Professionals Inc. bought a new position in CCC Intelligent Solutions in the fourth quarter valued at $54,000. 95.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCCS has been the subject of a number of research reports. Barclays cut their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Barrington Research reissued an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Piper Sandler restated a "neutral" rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, Morgan Stanley reduced their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.57.

CCC Intelligent Solutions Stock Up 1.8 %

Shares of NYSE CCCS opened at $8.61 on Wednesday. The firm's fifty day moving average is $9.33 and its 200 day moving average is $10.75. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. 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 cap of $5.67 billion, a price-to-earnings ratio of 430.72 and a beta of 0.77.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was 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 trade represents a 38.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 5,846 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The shares were 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 have sold a total of 42,087,456 shares of company stock valued at $434,240,401 in the last quarter. Insiders own 6.67% of the company's stock.

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.

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