Swiss National Bank Purchases 8,100 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Swiss National Bank lifted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 797,000 shares of the company’s stock after purchasing an additional 8,100 shares during the period. Swiss National Bank owned 0.12% of CCC Intelligent Solutions worth $9,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its position in shares of CCC Intelligent Solutions by 45.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock worth $1,824,000 after purchasing an additional 51,607 shares during the period. Norman Fields Gottscho Capital Management LLC lifted its position in shares of CCC Intelligent Solutions by 34.5% in the 4th 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 lifted its position in shares of CCC Intelligent Solutions by 155.7% in the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock worth $1,205,000 after purchasing an additional 66,386 shares during the period. HighTower Advisors LLC lifted its position in CCC Intelligent Solutions by 1,355.0% during the 3rd quarter. HighTower Advisors LLC now owns 602,797 shares of the company’s stock valued at $6,662,000 after acquiring an additional 561,367 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in CCC Intelligent Solutions by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company’s stock valued at $5,016,000 after acquiring an additional 85,725 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the completion of the sale, the director now directly owns 54,047 shares in the company, valued at $485,342.06. The trade was a 38.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the completion of the sale, the director now owns 2,258,343 shares of the company’s stock, valued at $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,054,132 shares of company stock worth $433,950,599. 6.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

CCC Intelligent Solutions Stock Down 0.6 %

NYSE:CCCS opened at $9.00 on Friday. The firm has a market cap of $5.92 billion, a P/E ratio of 450.23 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 fifty-two week low of $8.83 and a fifty-two week high of $12.88. The firm has a 50-day simple moving average of $10.44 and a two-hundred day simple moving average of $11.08.

CCC Intelligent Solutions announced that its Board of Directors has approved a share repurchase program on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.