Rhumbline Advisers Buys 10,077 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Rhumbline Advisers raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 408,502 shares of the company’s stock after purchasing an additional 10,077 shares during the period. Rhumbline Advisers owned 0.06% of CCC Intelligent Solutions worth $4,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CCCS. Conestoga Capital Advisors LLC increased its position 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 worth $143,822,000 after purchasing an additional 2,752,950 shares in the last quarter. Berry Wealth Group LP boosted its holdings in CCC Intelligent Solutions by 5.8% in the fourth quarter. Berry Wealth Group LP now owns 20,224 shares of the company’s stock worth $237,000 after acquiring an additional 1,109 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in CCC Intelligent Solutions by 21.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 17,686 shares of the company’s stock valued at $203,000 after purchasing an additional 3,090 shares during the period. Norris Perne & French LLP MI raised its holdings in shares of CCC Intelligent Solutions by 11.0% in the 4th quarter. Norris Perne & French LLP MI now owns 378,769 shares of the company’s stock worth $4,443,000 after acquiring an additional 37,402 shares during the last quarter. Finally, KBC Group NV raised its position in CCC Intelligent Solutions by 55.9% in the 4th quarter. KBC Group NV now owns 16,075 shares of the company’s stock valued at $189,000 after buying an additional 5,761 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insiders Place Their Bets

In other news, Director Crescenzo Neil E. De bought 100,000 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler reiterated a “neutral” rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $14.00 to $11.00 in a research report on Wednesday. Finally, Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $13.38.

CCC Intelligent Solutions Trading Up 1.2 %

Shares of NYSE:CCCS opened at $10.43 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 capitalization of $6.84 billion, a PE ratio of 521.76 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88. The business’s fifty day simple moving average is $11.17 and its 200-day simple moving average is $11.22.

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

About CCC Intelligent Solutions

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.