Teacher Retirement System of Texas Has $1.91 Million Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Teacher Retirement System of Texas boosted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 105.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 162,619 shares of the company’s stock after purchasing an additional 83,533 shares during the period. Teacher Retirement System of Texas’ holdings in CCC Intelligent Solutions were worth $1,908,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. 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 buying an additional 4,716,587 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in CCC Intelligent Solutions by 29.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock valued at $143,822,000 after purchasing an additional 2,752,950 shares during the last quarter. Raymond James Financial Inc. bought a new position in CCC Intelligent Solutions during the fourth quarter worth $31,020,000. State Street Corp increased its holdings in shares of CCC Intelligent Solutions by 32.2% in the third quarter. State Street Corp now owns 7,446,518 shares of the company’s stock valued at $82,284,000 after purchasing an additional 1,815,816 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in CCC Intelligent Solutions by 92.9% in 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 during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Analysts Set New Price Targets

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

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock opened at $9.07 on Friday. 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 company has a market cap of $5.96 billion, a PE ratio of 453.73 and a beta of 0.73. The company has a 50 day moving average of $10.29 and a 200-day moving average of $11.04. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.83 and a 1-year high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has initiated a stock repurchase program 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 programs are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Rodney Christo sold 5,846 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total transaction of $53,490.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction dated 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 transaction, the director now owns 54,047 shares in the company, valued at approximately $485,342.06. This represents a 38.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,059,978 shares of company stock worth $434,004,090 over the last three months. Insiders own 6.67% of the company’s stock.

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.