Chicago Partners Investment Group LLC Increases Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Chicago Partners Investment Group LLC lifted its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 21.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,686 shares of the company’s stock after buying an additional 3,090 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in CCC Intelligent Solutions were worth $203,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CCCS. Wasatch Advisors LP lifted its position 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 acquiring an additional 4,716,587 shares in the last quarter. Adero Partners LLC raised its stake in CCC Intelligent Solutions by 118.5% during the 3rd 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 during the period. Massachusetts Financial Services Co. MA lifted its holdings in CCC Intelligent Solutions by 35.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock worth $95,571,000 after purchasing an additional 2,272,336 shares in the last quarter. State Street Corp boosted its stake in CCC Intelligent Solutions by 32.2% in the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company’s stock worth $82,284,000 after purchasing an additional 1,815,816 shares during the period. Finally, Wellington Management Group LLP grew its holdings in CCC Intelligent Solutions by 92.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,279,252 shares of the company’s stock valued at $36,236,000 after buying an additional 1,578,942 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Barclays dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.89.

Insider Buying and Selling

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $1,216,000. This trade represents a ? increase 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 9,916 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The disclosure for this sale can be found here. Insiders sold a total of 433,805 shares of company stock worth $5,283,361 over the last three months. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Price Performance

Shares of CCC Intelligent Solutions stock opened at $11.07 on Thursday. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 553.78 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The stock has a 50 day moving average price of $11.72 and a 200-day moving average price of $11.21. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.88.

CCC Intelligent Solutions declared that its board has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication 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.