KBC Group NV Acquires 5,761 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

KBC Group NV increased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 55.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,075 shares of the company’s stock after buying an additional 5,761 shares during the quarter. KBC Group NV’s holdings in CCC Intelligent Solutions were worth $189,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new stake in CCC Intelligent Solutions in the fourth quarter worth about $25,000. UMB Bank n.a. bought a new stake in CCC Intelligent Solutions during the 4th quarter worth approximately $28,000. Advisors Asset Management Inc. lifted its stake 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 holdings in CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after purchasing an additional 2,479 shares during the period. Finally, Financial Management Professionals Inc. purchased a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at $54,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Rodney Christo sold 75,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Jo Prigge sold 2,489 shares of CCC Intelligent Solutions stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total value of $29,868.00. Following the sale, the insider now directly owns 97,268 shares in the company, valued at $1,167,216. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock valued at $5,390,863 in the last 90 days. Company insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Performance

Shares of CCCS opened at $10.96 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market capitalization of $7.19 billion, a P/E ratio of 548.27 and a beta of 0.71. The business has a fifty day moving average of $11.75 and a 200 day moving average of $11.22. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.88.

CCC Intelligent Solutions announced that its board 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 buy up to 4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

CCC Intelligent Solutions 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.