Hardy Reed LLC Has $281,000 Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Hardy Reed LLC boosted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,955 shares of the company’s stock after purchasing an additional 2,415 shares during the period. Hardy Reed LLC’s holdings in CCC Intelligent Solutions were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCCS. Raymond James & Associates increased its holdings in CCC Intelligent Solutions by 16.0% during the 3rd quarter. Raymond James & Associates now owns 1,559,611 shares of the company’s stock valued at $17,234,000 after purchasing an additional 215,587 shares in the last quarter. Baker Tilly Wealth Management LLC acquired a new stake in CCC Intelligent Solutions during the 3rd quarter valued at $149,000. Norris Perne & French LLP MI increased its holdings in CCC Intelligent Solutions by 10.3% during the 3rd quarter. Norris Perne & French LLP MI now owns 341,367 shares of the company’s stock valued at $3,772,000 after purchasing an additional 31,950 shares in the last quarter. Stephens Inc. AR increased its holdings in CCC Intelligent Solutions by 47.1% during the 3rd quarter. Stephens Inc. AR now owns 25,296 shares of the company’s stock valued at $280,000 after purchasing an additional 8,103 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in CCC Intelligent Solutions by 1.6% during the 3rd quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company’s stock valued at $26,201,000 after purchasing an additional 36,867 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 9,916 shares of CCC Intelligent Solutions stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $12.67, for a total transaction of $125,635.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Crescenzo Neil E. De bought 100,000 shares of CCC Intelligent Solutions 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 completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 175,000 shares of company stock worth $2,195,379. Corporate insiders own 6.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted 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. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Finally, Barrington Research reissued an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

CCC Intelligent Solutions Stock Down 1.7 %

NYSE:CCCS opened at $10.58 on Thursday. The stock’s fifty day simple moving average is $11.37 and its 200-day simple moving average is $11.22. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.94 billion, a P/E ratio of 529.26 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88.

CCC Intelligent Solutions announced that its board has initiated a stock buyback plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.