Amundi Sells 112,834 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Amundi trimmed its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 85.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,659 shares of the company’s stock after selling 112,834 shares during the period. Amundi’s holdings in CCC Intelligent Solutions were worth $215,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC bought a new stake in CCC Intelligent Solutions in the 4th quarter worth about $25,000. UMB Bank n.a. bought a new stake in CCC Intelligent Solutions in the 4th quarter worth about $28,000. Advisors Asset Management Inc. grew its position in CCC Intelligent Solutions by 153.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares in the last quarter. GAMMA Investing LLC boosted its stake in CCC Intelligent Solutions by 286.9% in the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after acquiring an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in CCC Intelligent Solutions in the fourth quarter valued at about $54,000. 95.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at CCC Intelligent Solutions

In other news, Director Eileen Schloss sold 34,055 shares of the 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 sale, the director now directly owns 54,047 shares of the company’s stock, valued at approximately $485,342.06. This represents a 38.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the transaction, the director now directly owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. This represents a 94.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,054,132 shares of company stock valued at $433,950,599 over the last three months. Company insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Down 0.6 %

CCC Intelligent Solutions stock opened at $9.00 on Friday. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 450.23 and a beta of 0.73. The firm has a 50 day simple moving average of $10.44 and a 200 day simple moving average of $11.08. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.83 and a 1-year high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions announced that its Board of Directors has initiated 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 buy up to 4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board 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.