CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Sells $305,813.90 in Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Eileen Schloss sold 34,055 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the completion of the sale, the director now owns 54,047 shares of the company’s stock, valued at approximately $485,342.06. This represents a 38.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CCC Intelligent Solutions Stock Performance

NYSE CCCS opened at $9.00 on Friday. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.83 and a 52-week high of $12.88. The company has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $11.08. 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 capitalization of $5.92 billion, a PE ratio of 450.23 and a beta of 0.73.

CCC Intelligent Solutions announced that its board has initiated a share repurchase program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CCCS. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Piper Sandler reiterated a “neutral” rating and issued a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $13.14.

Institutional Trading of CCC Intelligent Solutions

Large investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC bought a new position in CCC Intelligent Solutions during the fourth quarter worth about $25,000. UMB Bank n.a. bought a new position in CCC Intelligent Solutions during the fourth quarter worth about $28,000. TD Private Client Wealth LLC bought a new position in CCC Intelligent Solutions during the fourth quarter worth about $31,000. Advisors Asset Management Inc. boosted its position in CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares during the period. Finally, Quarry LP bought a new position in CCC Intelligent Solutions during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 95.79% 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.