US Bancorp DE Has $434,000 Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

US Bancorp DE trimmed its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,011 shares of the company’s stock after selling 1,974 shares during the period. US Bancorp DE’s holdings in CCC Intelligent Solutions were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Adero Partners LLC grew its stake in CCC Intelligent Solutions by 118.5% in the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after acquiring an additional 3,135,650 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares in the last quarter. Norman Fields Gottscho Capital Management LLC lifted its holdings in shares of CCC Intelligent Solutions by 34.5% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock valued at $4,663,000 after purchasing an additional 101,885 shares in the last quarter. Barclays PLC lifted its holdings in shares of CCC Intelligent Solutions by 155.7% in the third quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after purchasing an additional 66,386 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of CCC Intelligent Solutions by 12.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 558,595 shares of the company’s stock valued at $6,172,000 after purchasing an additional 61,660 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $1,216,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Wei sold 42,000,000 shares of the company’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 value of $433,440,000.00. Following the completion of the transaction, the director now directly 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 corporate insiders.

CCC Intelligent Solutions Stock Performance

CCCS opened at $9.13 on Thursday. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.83 and a 52-week high of $12.88. The firm has a market capitalization of $6.00 billion, a PE ratio of 456.73 and a beta of 0.73. 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 business’s 50-day simple moving average is $10.75 and its 200 day simple moving average is $11.16.

CCC Intelligent Solutions declared that its board has approved a stock repurchase plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.