Natixis Advisors LLC Purchases 23,688 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Natixis Advisors LLC grew its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 329,009 shares of the company’s stock after purchasing an additional 23,688 shares during the quarter. Natixis Advisors LLC’s holdings in CCC Intelligent Solutions were worth $3,859,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in CCC Intelligent Solutions by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock worth $316,001,000 after acquiring an additional 455,040 shares during the last quarter. 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 acquiring an additional 4,716,587 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in CCC Intelligent Solutions by 29.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock worth $143,822,000 after acquiring an additional 2,752,950 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in CCC Intelligent Solutions by 35.6% during 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 during the last quarter. Finally, State Street Corp grew 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 last quarter. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Trading Down 0.6 %

NYSE CCCS opened at $9.00 on Friday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $12.88. 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 stock has a 50 day simple moving average of $10.44 and a two-hundred day simple moving average of $11.08. The stock has a market cap of $5.92 billion, a P/E ratio of 450.23 and a beta of 0.73.

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

Insiders Place Their Bets

In other news, Director Eric Wei sold 42,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 owns 2,258,343 shares in the company, valued at $23,306,099.76. This trade represents a 94.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,054,132 shares of company stock worth $433,950,599. 6.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.