SRS Capital Advisors Inc. Acquires Shares of 10,533 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

SRS Capital Advisors Inc. bought a new position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,533 shares of the company’s stock, valued at approximately $124,000.

Several other institutional investors have also made changes to their positions in the company. Wasatch Advisors LP grew its position in CCC Intelligent Solutions by 49.1% during the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after purchasing an additional 4,716,587 shares in the last quarter. Adero Partners LLC grew its holdings in shares of CCC Intelligent Solutions by 118.5% during the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after buying an additional 3,135,650 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in 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 lifted its stake in CCC Intelligent Solutions by 35.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock worth $95,571,000 after acquiring an additional 2,272,336 shares in the last quarter. Finally, State Street Corp boosted its position in CCC Intelligent Solutions by 32.2% during the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company’s stock worth $82,284,000 after acquiring an additional 1,815,816 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction 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 approximately $23,306,099.76. This represents 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.

Wall Street Analysts Forecast Growth

CCCS has been the topic of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Morgan Stanley raised shares of 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. Finally, JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.38.

CCC Intelligent Solutions Stock Performance

CCCS stock opened at $9.72 on Thursday. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 486.24 and a beta of 0.71. The firm has a 50 day moving average of $11.01 and a two-hundred day moving average of $11.21. 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 12 month low of $9.46 and a 12 month high of $12.88.

CCC Intelligent Solutions declared that its board has authorized a stock repurchase program on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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.