Wasatch Advisors LP Reduces Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wasatch Advisors LP lowered its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,163,764 shares of the company's stock after selling 167,266 shares during the quarter. Wasatch Advisors LP owned 2.16% of CCC Intelligent Solutions worth $166,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CCCS. Norman Fields Gottscho Capital Management LLC grew its holdings in CCC Intelligent Solutions by 34.5% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company's stock valued at $4,663,000 after buying an additional 101,885 shares in the last quarter. 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 buying an additional 51,607 shares in the last quarter. Barclays PLC increased its holdings in shares of CCC Intelligent Solutions by 155.7% during the third quarter. Barclays PLC now owns 109,020 shares of the company's stock valued at $1,205,000 after acquiring an additional 66,386 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of CCC Intelligent Solutions by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company's stock worth $5,016,000 after acquiring an additional 85,725 shares during the period. Finally, UMB Bank n.a. purchased a new stake in CCC Intelligent Solutions in the 4th quarter worth $28,000. Institutional investors own 95.79% of the company's stock.

Insider Activity

In related news, Director Eileen Schloss sold 27,478 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total value of $236,310.80. Following the completion of the sale, the director now directly owns 26,569 shares in the company, valued at $228,493.40. The trade was a 50.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the transaction, the director now owns 2,258,343 shares of the company's stock, valued at approximately $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. 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 90 days. 6.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CCCS. Morgan Stanley decreased 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. Barrington Research reaffirmed an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. JPMorgan Chase & Co. downgraded 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 restated 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. Finally, Barclays decreased their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.57.

CCC Intelligent Solutions Price Performance

NYSE CCCS traded down $0.26 during trading on Monday, reaching $8.41. 1,917,181 shares of the company traded hands, compared to its average volume of 4,629,575. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.14 and a 1-year high of $12.88. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 420.71 and a beta of 0.77. The stock's 50 day moving average price is $9.42 and its two-hundred day moving average price is $10.78. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

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.