Teacher Retirement System of Texas Has $1.91 Million Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Teacher Retirement System of Texas lifted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 105.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,619 shares of the company's stock after acquiring an additional 83,533 shares during the period. Teacher Retirement System of Texas' holdings in CCC Intelligent Solutions were worth $1,908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eagle Bay Advisors LLC acquired a new position in CCC Intelligent Solutions in the 4th quarter valued at approximately $25,000. UMB Bank n.a. bought a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $28,000. Advisors Asset Management Inc. boosted its holdings in shares of CCC Intelligent Solutions by 153.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company's stock worth $32,000 after acquiring an additional 1,729 shares in the last quarter. GAMMA Investing LLC grew its position in CCC Intelligent Solutions by 286.9% during the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company's stock worth $39,000 after acquiring an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. acquired a new stake in CCC Intelligent Solutions during the 4th quarter valued at $54,000. Institutional investors own 95.79% of the company's stock.

Analyst Ratings Changes

CCCS has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their target price for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. 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. Finally, Piper Sandler reiterated a "neutral" rating and set a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. 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, CCC Intelligent Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

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CCC Intelligent Solutions Trading Up 1.2 %

NYSE:CCCS traded up $0.11 during trading hours on Monday, hitting $9.03. The stock had a trading volume of 7,730,912 shares, compared to its average volume of 4,279,510. The business's 50 day moving average is $10.20 and its 200-day moving average is $11.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 451.73 and a beta of 0.73. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.68 and a one year high of $12.88.

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

Insider Activity

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the transaction, the director now owns 54,047 shares of the company's stock, valued at approximately $485,342.06. The trade was a 38.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares of the company's stock, valued at $23,306,099.76. This represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,059,978 shares of company stock valued at $434,004,090 in the last quarter. Company insiders own 6.67% of the company's stock.

About CCC Intelligent Solutions

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.