HighTower Advisors LLC Sells 16,180 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

HighTower Advisors LLC decreased its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 586,617 shares of the company’s stock after selling 16,180 shares during the period. HighTower Advisors LLC owned about 0.09% of CCC Intelligent Solutions worth $6,881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in CCC Intelligent Solutions by 34.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,196 shares of the company’s stock valued at $1,187,000 after buying an additional 25,702 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in CCC Intelligent Solutions by 15.3% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,332,305 shares of the company’s stock valued at $15,862,000 after buying an additional 176,939 shares during the period. Marco Investment Management LLC raised its stake in CCC Intelligent Solutions by 29.8% in the fourth quarter. Marco Investment Management LLC now owns 13,275 shares of the company’s stock valued at $156,000 after buying an additional 3,050 shares during the period. Raymond James Financial Inc. bought a new stake in CCC Intelligent Solutions in the fourth quarter valued at approximately $31,020,000. Finally, Arizona State Retirement System raised its stake in CCC Intelligent Solutions by 1.0% in the fourth quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock valued at $1,378,000 after buying an additional 1,150 shares during the period. Institutional investors own 95.79% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De bought 100,000 shares of CCC Intelligent Solutions stock in a transaction on 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 acquisition, the director now owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the firm’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 sale, the director now directly owns 2,258,343 shares in the company, valued at approximately $23,306,099.76. This represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. 6.67% of the stock is currently owned by company insiders.

CCC Intelligent Solutions Trading Down 1.5 %

Shares of NYSE:CCCS opened at $9.26 on Wednesday. The company has a market capitalization of $6.09 billion, a P/E ratio of 463.23 and a beta of 0.73. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.83 and a 1 year high of $12.88. 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 business’s 50 day simple moving average is $10.58 and its 200 day simple moving average is $11.12.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share buyback plan on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board 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.