Zurcher Kantonalbank Zurich Cantonalbank Acquires 25,702 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 34.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 101,196 shares of the company’s stock after purchasing an additional 25,702 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CCC Intelligent Solutions were worth $1,187,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Eagle Bay Advisors LLC bought a new position in shares of CCC Intelligent Solutions in the 4th quarter worth $25,000. UMB Bank n.a. bought a new position in CCC Intelligent Solutions in the fourth quarter worth about $28,000. Advisors Asset Management Inc. lifted its position in shares of CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after buying an additional 1,729 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after buying an additional 2,479 shares in the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $9.19 on Thursday. 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 company’s fifty day moving average price is $10.53 and its 200-day moving average price is $11.10. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.83 and a 1-year high of $12.88. The firm has a market capitalization of $6.04 billion, a PE ratio of 459.73 and a beta of 0.73.

CCC Intelligent Solutions announced that its board has approved a stock repurchase program on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on CCCS shares. Piper Sandler restated a “neutral” rating and issued a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.14.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Company insiders own 6.67% of the company’s stock.

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.