Investment House LLC Has $6.05 Million Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Investment House LLC raised its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 54.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 515,820 shares of the company’s stock after purchasing an additional 181,600 shares during the period. Investment House LLC owned 0.08% of CCC Intelligent Solutions worth $6,051,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baker Tilly Wealth Management LLC lifted its position in shares of CCC Intelligent Solutions by 6.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company’s stock valued at $169,000 after acquiring an additional 888 shares during the period. Central Pacific Bank Trust Division lifted its position in shares of CCC Intelligent Solutions by 6.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company’s stock valued at $197,000 after acquiring an additional 960 shares during the period. CIBC Asset Management Inc lifted its position in shares of CCC Intelligent Solutions by 5.9% during the 4th quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock valued at $223,000 after acquiring an additional 1,054 shares during the period. Berry Wealth Group LP lifted its position in shares of CCC Intelligent Solutions by 5.8% during the 4th quarter. Berry Wealth Group LP now owns 20,224 shares of the company’s stock valued at $237,000 after acquiring an additional 1,109 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of CCC Intelligent Solutions by 1.0% during the 4th quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock valued at $1,378,000 after acquiring an additional 1,150 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCCS. Piper Sandler restated a “neutral” rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered shares of 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. Finally, Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $13.14.

CCC Intelligent Solutions Stock Performance

NYSE CCCS opened at $9.26 on Wednesday. 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 firm has a market cap of $6.09 billion, a price-to-earnings ratio of 463.23 and a beta of 0.73. The company has a fifty day moving average price of $10.58 and a 200-day moving average price of $11.12.

CCC Intelligent Solutions declared that its board has authorized a stock buyback plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the company’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 owns 2,258,343 shares in the company, valued at $23,306,099.76. This represents a 94.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Crescenzo Neil E. De bought 100,000 shares of CCC Intelligent Solutions stock in a transaction dated 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 purchase, the director now owns 100,000 shares in the company, valued at approximately $1,216,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 6.67% of the company’s stock.

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.