CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) CAO Rodney Christo sold 20,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of NYSE:CCCS traded down $0.15 during midday trading on Monday, hitting $10.04. The stock had a trading volume of 9,712,050 shares, compared to its average volume of 4,989,391. The company's 50-day moving average price is $11.14 and its 200-day moving average price is $11.23. The company has a market capitalization of $6.59 billion, a P/E ratio of 502.25 and a beta of 0.71. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.88.
CCC Intelligent Solutions announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in CCCS. Stephens Inc. AR grew its holdings in CCC Intelligent Solutions by 47.1% during the 3rd quarter. Stephens Inc. AR now owns 25,296 shares of the company's stock worth $280,000 after acquiring an additional 8,103 shares during the last quarter. New York State Common Retirement Fund grew its holdings in CCC Intelligent Solutions by 1.6% during the 3rd quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company's stock worth $26,201,000 after acquiring an additional 36,867 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in CCC Intelligent Solutions by 15.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 14,596 shares of the company's stock worth $162,000 after acquiring an additional 1,957 shares during the last quarter. Janney Capital Management LLC bought a new stake in CCC Intelligent Solutions during the 3rd quarter worth approximately $321,000. Finally, Harbor Capital Advisors Inc. grew its holdings in CCC Intelligent Solutions by 67.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 340,397 shares of the company's stock worth $3,761,000 after acquiring an additional 136,854 shares during the last quarter. 95.79% of the stock is owned by institutional investors.
CCCS has been the subject of several analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.38.
Check Out Our Latest Research Report on CCCS
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.
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