Pembroke Management LTD Has $12.96 Million Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Pembroke Management LTD lessened its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,104,636 shares of the company’s stock after selling 12,627 shares during the period. CCC Intelligent Solutions comprises 1.7% of Pembroke Management LTD’s investment portfolio, making the stock its 28th largest holding. Pembroke Management LTD owned about 0.17% of CCC Intelligent Solutions worth $12,957,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp boosted its stake in CCC Intelligent Solutions by 3.5% in the 4th quarter. Truist Financial Corp now owns 403,425 shares of the company’s stock worth $4,732,000 after purchasing an additional 13,598 shares during the period. CIBC Asset Management Inc boosted its position in shares of CCC Intelligent Solutions by 5.9% in the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock worth $223,000 after buying an additional 1,054 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of CCC Intelligent Solutions by 228.3% during the fourth quarter. Sanctuary Advisors LLC now owns 40,366 shares of the company’s stock valued at $451,000 after buying an additional 28,070 shares in the last quarter. Principal Financial Group Inc. raised its position in CCC Intelligent Solutions by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock valued at $316,001,000 after buying an additional 455,040 shares during the period. Finally, Principal Securities Inc. lifted its stake in CCC Intelligent Solutions by 108.8% in the 4th quarter. Principal Securities Inc. now owns 28,391 shares of the company’s stock worth $333,000 after acquiring an additional 14,791 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CCCS. Barclays dropped their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.00.

CCC Intelligent Solutions Price Performance

Shares of NYSE:CCCS opened at $10.75 on Tuesday. 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 stock has a market capitalization of $7.05 billion, a P/E ratio of 537.77 and a beta of 0.71. The business has a 50-day moving average of $11.44 and a two-hundred day moving average of $11.22. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.88.

CCC Intelligent Solutions announced that its board has authorized a stock repurchase plan on Friday, December 20th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Crescenzo Neil E. De bought 100,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was 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 directly owns 100,000 shares in the company, valued at approximately $1,216,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Rodney Christo sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $12.01, for a total value of $900,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 347,511 shares of company stock worth $4,267,236. 6.67% of the stock is currently owned by insiders.

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.