Keybank National Association OH Lowers Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Keybank National Association OH trimmed its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 15.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,824 shares of the company’s stock after selling 2,997 shares during the period. Keybank National Association OH’s holdings in CCC Intelligent Solutions were worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in shares of CCC Intelligent Solutions by 5.8% in the 3rd quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock worth $262,000 after purchasing an additional 1,299 shares during the period. Principal Financial Group Inc. lifted its position 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 worth $292,654,000 after purchasing an additional 1,234,281 shares during the period. Atria Investments Inc lifted its position in shares of CCC Intelligent Solutions by 13.6% in the 3rd quarter. Atria Investments Inc now owns 77,427 shares of the company’s stock worth $856,000 after purchasing an additional 9,287 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of CCC Intelligent Solutions by 12.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 183,835 shares of the company’s stock worth $2,031,000 after purchasing an additional 21,017 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of CCC Intelligent Solutions by 5.2% in the 3rd quarter. Victory Capital Management Inc. now owns 52,720 shares of the company’s stock worth $583,000 after purchasing an additional 2,626 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De purchased 100,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the purchase, the director now owns 100,000 shares of the company’s stock, valued at $1,216,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric Wei sold 42,000,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the completion of the sale, the director now owns 2,258,343 shares in the company, valued at $23,306,099.76. The trade was a 94.90 % decrease in their position. The disclosure for this sale can be found here. 6.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Finally, Piper Sandler reissued a “neutral” rating and set a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

CCC Intelligent Solutions Trading Up 1.5 %

NYSE:CCCS opened at $9.20 on Wednesday. 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 $8.83 and a 52 week high of $12.88. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 460.23 and a beta of 0.73. The firm has a 50 day moving average of $10.80 and a 200 day moving average of $11.17.

CCC Intelligent Solutions announced that its Board of Directors has initiated a share buyback program on Friday, December 20th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase 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.