Rodney Christo Sells 20,077 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) CAO Rodney Christo sold 20,077 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.20, for a total value of $204,785.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock opened at $9.66 on Wednesday. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 483.24 and a beta of 0.71. The stock’s 50-day moving average is $11.06 and its 200-day moving average is $11.22. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.65 and a one 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.

CCC Intelligent Solutions announced that its Board of Directors has approved a share repurchase plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of CCC Intelligent Solutions

Institutional investors have recently modified their holdings of the company. Cache Advisors LLC bought a new stake in CCC Intelligent Solutions during the fourth quarter worth about $1,362,000. Squarepoint Ops LLC raised its holdings in CCC Intelligent Solutions by 736.2% during the fourth quarter. Squarepoint Ops LLC now owns 141,091 shares of the company’s stock worth $1,655,000 after acquiring an additional 124,218 shares in the last quarter. Twinbeech Capital LP bought a new stake in CCC Intelligent Solutions during the fourth quarter worth about $489,000. TPG GP A LLC raised its holdings in CCC Intelligent Solutions by 17.3% during the fourth quarter. TPG GP A LLC now owns 4,087,220 shares of the company’s stock worth $47,943,000 after acquiring an additional 602,959 shares in the last quarter. Finally, State of Wyoming raised its holdings in CCC Intelligent Solutions by 26.7% during the fourth quarter. State of Wyoming now owns 17,680 shares of the company’s stock worth $207,000 after acquiring an additional 3,731 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCCS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut 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 note on Wednesday, February 26th. Piper Sandler reissued a “neutral” rating and issued a $11.00 target price (down 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 target price on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Finally, Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

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.