CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 54.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,991 shares of the company’s stock after selling 30,857 shares during the quarter. SG Americas Securities LLC’s holdings in CCC Intelligent Solutions were worth $305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of CCC Intelligent Solutions by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock valued at $292,654,000 after acquiring an additional 1,234,281 shares during the last quarter. Wasatch Advisors LP lifted its position in CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock valued at $158,358,000 after purchasing an additional 4,716,587 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in CCC Intelligent Solutions by 18.7% in the third quarter. Conestoga Capital Advisors LLC now owns 9,508,085 shares of the company’s stock valued at $105,064,000 after purchasing an additional 1,498,200 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in CCC Intelligent Solutions by 35.6% during 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 during the period. Finally, State Street Corp raised its stake in shares of CCC Intelligent Solutions by 32.2% during the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company’s stock valued at $82,284,000 after buying an additional 1,815,816 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Up 0.2 %

Shares of NYSE CCCS opened at $10.96 on Wednesday. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 548.27 and a beta of 0.71. The company’s 50-day simple moving average is $11.75 and its 200-day simple moving average is $11.22. 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 52-week low of $9.79 and a 52-week high of $12.88.

CCC Intelligent Solutions declared that its board has authorized a share buyback program on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at CCC Intelligent Solutions

In other news, insider Mary Jo Prigge sold 2,489 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the sale, the insider now directly owns 97,268 shares in the company, valued at $1,167,216. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Githesh Ramamurthy sold 9,348 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $11.50, for a total transaction of $107,502.00. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 443,153 shares of company stock valued at $5,390,863. 6.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.