CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Acquired by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,000 shares of the company’s stock after purchasing an additional 3,000 shares during the period. CCC Intelligent Solutions makes up about 1.4% of Cannon Global Investment Management LLC’s holdings, making the stock its 23rd biggest position. Cannon Global Investment Management LLC’s holdings in CCC Intelligent Solutions were worth $633,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CCCS. Teachers Retirement System of The State of Kentucky grew its position in shares of CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares during the last quarter. Norman Fields Gottscho Capital Management LLC raised its stake in CCC Intelligent Solutions by 34.5% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock worth $4,663,000 after purchasing an additional 101,885 shares during the period. Barclays PLC boosted its holdings in CCC Intelligent Solutions by 155.7% in the third quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after acquiring an additional 66,386 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of CCC Intelligent Solutions by 1,355.0% during the 3rd quarter. HighTower Advisors LLC now owns 602,797 shares of the company’s stock worth $6,662,000 after purchasing an additional 561,367 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of CCC Intelligent Solutions by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company’s stock worth $5,016,000 after acquiring an additional 85,725 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Activity

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $8.98, for a total transaction of $305,813.90. Following the transaction, the director now directly owns 54,047 shares in the company, valued at $485,342.06. This trade represents a 38.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. Insiders sold 42,054,132 shares of company stock worth $433,950,599 over the last quarter. Corporate insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $9.00 on Monday. CCC Intelligent Solutions Holdings Inc. has a one year low of $8.83 and a one year high of $12.88. The firm has a 50-day moving average of $10.44 and a two-hundred day moving average of $11.08. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $5.92 billion, a PE ratio of 450.23 and a beta of 0.73.

CCC Intelligent Solutions announced that its board has authorized a share repurchase program on Friday, December 20th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCCS. Piper Sandler reiterated a “neutral” rating and issued a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. 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. Finally, JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.14.

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.