CIBC Asset Management Inc Buys 1,054 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

CIBC Asset Management Inc raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,046 shares of the company’s stock after acquiring an additional 1,054 shares during the quarter. CIBC Asset Management Inc’s holdings in CCC Intelligent Solutions were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CCCS. Principal Financial Group Inc. increased its holdings in shares of CCC Intelligent Solutions by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock worth $316,001,000 after purchasing an additional 455,040 shares during the last quarter. Wasatch Advisors LP boosted its position in shares of 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 buying an additional 4,716,587 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of CCC Intelligent Solutions by 29.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock valued at $143,822,000 after buying an additional 2,752,950 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of CCC Intelligent Solutions by 35.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock valued at $95,571,000 after purchasing an additional 2,272,336 shares during the period. Finally, State Street Corp boosted its holdings in shares of CCC Intelligent Solutions by 32.2% in the third quarter. State Street Corp now owns 7,446,518 shares of the company’s stock valued at $82,284,000 after purchasing an additional 1,815,816 shares during the period. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Stock Up 0.7 %

CCCS stock opened at $10.30 on Wednesday. The firm has a market cap of $6.76 billion, a PE ratio of 515.26 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The firm’s 50 day moving average price is $11.23 and its 200-day moving average price is $11.23. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has approved a share repurchase program on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy up to 4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CCCS has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Barclays dropped their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Barrington Research reaffirmed 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. raised their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Morgan Stanley upgraded 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 report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.67% of the stock is owned by insiders.

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.