Trust Point Inc. Lowers Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Trust Point Inc. lowered its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,582 shares of the company's stock after selling 23,433 shares during the period. Trust Point Inc.'s holdings in CCC Intelligent Solutions were worth $816,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter worth about $25,000. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter worth about $28,000. Advisors Asset Management Inc. increased its holdings in CCC Intelligent Solutions by 153.0% during the 3rd 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 period. GAMMA Investing LLC increased its holdings in CCC Intelligent Solutions by 286.9% during the 4th 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 period. Finally, Financial Management Professionals Inc. purchased a new position in CCC Intelligent Solutions during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Piper Sandler reaffirmed a "neutral" rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Barrington Research reissued an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Barclays dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, CCC Intelligent Solutions presently has an average rating of "Moderate Buy" and a consensus price target of $13.89.

Insider Transactions at CCC Intelligent Solutions

In other news, insider Githesh Ramamurthy sold 8,805 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.50, for a total transaction of $101,257.50. Following the completion of the transaction, the insider now owns 4,798,040 shares in the company, valued at $55,177,460. This trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the business's stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the transaction, the director now owns 100,000 shares of the company's stock, valued at approximately $1,216,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 433,805 shares of company stock worth $5,283,361 in the last three months. Corporate insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Stock Performance

Shares of NYSE:CCCS traded down $0.12 during midday trading on Friday, hitting $10.97. The company had a trading volume of 3,563,638 shares, compared to its average volume of 4,284,187. 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 cap of $7.20 billion, a price-to-earnings ratio of 548.77 and a beta of 0.71. 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 fifty day moving average of $11.66 and a two-hundred day moving average of $11.21.

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

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.