Lakeshore Financial Planning Inc. Sells 16,700 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Lakeshore Financial Planning Inc. lessened its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 14.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,620 shares of the company’s stock after selling 16,700 shares during the period. CCC Intelligent Solutions makes up about 0.5% of Lakeshore Financial Planning Inc.’s investment portfolio, making the stock its 19th largest holding. Lakeshore Financial Planning Inc.’s holdings in CCC Intelligent Solutions were worth $1,169,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions in the 4th quarter worth $25,000. UMB Bank n.a. purchased a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at $28,000. TD Private Client Wealth LLC acquired a new position in CCC Intelligent Solutions during the fourth quarter valued at $31,000. Advisors Asset Management Inc. grew 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 valued at $32,000 after buying an additional 1,729 shares during the period. Finally, GAMMA Investing LLC raised its position in CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after acquiring an additional 2,479 shares during the period. 95.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares in the company, valued at $23,306,099.76. The trade was a 94.90 % decrease in their position. The disclosure for this sale can be found here. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Trading Down 1.5 %

CCC Intelligent Solutions stock opened at $9.05 on Friday. The stock has a market capitalization of $5.95 billion, a P/E ratio of 452.73 and a beta of 0.73. 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 stock has a 50-day simple moving average of $10.48 and a 200 day simple moving average of $11.09.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share repurchase plan on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are 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.