Polen Capital Management LLC Sells 33,886 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Polen Capital Management LLC lowered its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 762,304 shares of the company’s stock after selling 33,886 shares during the period. Polen Capital Management LLC owned 0.12% of CCC Intelligent Solutions worth $8,942,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP increased its holdings in shares of CCC Intelligent Solutions by 49.1% in the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock valued at $158,358,000 after purchasing an additional 4,716,587 shares in the last quarter. Adero Partners LLC increased its holdings in shares of CCC Intelligent Solutions by 118.5% in the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after purchasing an additional 3,135,650 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of CCC Intelligent Solutions by 29.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock valued at $143,822,000 after purchasing an additional 2,752,950 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $31,020,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of CCC Intelligent Solutions by 35.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock valued at $95,571,000 after purchasing an additional 2,272,336 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CCCS shares. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Piper Sandler reissued a “neutral” rating and issued a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.14.

Insider Activity

In other news, Director Eric Wei sold 42,000,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the transaction, the director now owns 2,258,343 shares of the company’s stock, valued at $23,306,099.76. The trade was a 94.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Price Performance

CCCS opened at $9.32 on Monday. The company has a fifty day moving average price of $10.66 and a two-hundred day moving average price of $11.14. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.83 and a 52 week high of $12.88. The firm has a market capitalization of $6.13 billion, a PE ratio of 466.23 and a beta of 0.73.

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

CCC Intelligent Solutions 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.