Eileen Schloss Sells 34,055 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the completion of the sale, the director now directly owns 54,047 shares in the company, valued at $485,342.06. This represents a 38.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CCC Intelligent Solutions Price Performance

Shares of CCCS stock traded down $0.05 during midday trading on Friday, reaching $9.00. 11,209,889 shares of the company traded hands, compared to its average volume of 4,104,262. The firm’s 50 day simple moving average is $10.48 and its two-hundred day simple moving average is $11.09. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.83 and a 1-year high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a market cap of $5.92 billion, a PE ratio of 450.23 and a beta of 0.73.

CCC Intelligent Solutions declared that its Board of Directors has initiated a stock buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCCS. Price T Rowe Associates Inc. MD raised its position in shares of CCC Intelligent Solutions by 4,172.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company’s stock worth $115,394,000 after purchasing an additional 9,607,085 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $58,080,000. Wasatch Advisors LP raised its position in shares of 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 during the last quarter. Norges Bank acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $50,032,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of CCC Intelligent Solutions by 6.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company’s stock worth $807,807,000 after purchasing an additional 4,060,284 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCCS has been the topic of a number of analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective 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 lowered their price objective for the company from $14.00 to $11.00 in a report on Wednesday, February 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.14.

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.