Wellington Management Group LLP Has $34.54 Million Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wellington Management Group LLP lowered its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,944,446 shares of the company’s stock after selling 334,806 shares during the quarter. Wellington Management Group LLP’s holdings in CCC Intelligent Solutions were worth $34,538,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky increased its holdings in shares of CCC Intelligent Solutions by 45.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after purchasing an additional 51,607 shares during the last quarter. Norman Fields Gottscho Capital Management LLC boosted its holdings in shares of CCC Intelligent Solutions by 34.5% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock worth $4,663,000 after buying an additional 101,885 shares during the period. Barclays PLC grew its stake in CCC Intelligent Solutions by 155.7% in the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after buying an additional 66,386 shares during the last quarter. HighTower Advisors LLC raised its holdings in CCC Intelligent Solutions by 1,355.0% in the 3rd quarter. HighTower Advisors LLC now owns 602,797 shares of the company’s stock valued at $6,662,000 after acquiring an additional 561,367 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in CCC Intelligent Solutions by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company’s stock worth $5,016,000 after acquiring an additional 85,725 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eileen Schloss sold 34,055 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the completion of the sale, the director now directly owns 54,047 shares of the company’s stock, valued at $485,342.06. The trade was a 38.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rodney Christo sold 20,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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. Over the last ninety days, insiders sold 42,087,456 shares of company stock valued at $434,240,401. Corporate insiders own 6.67% of the company’s stock.

Analysts Set New Price Targets

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

CCC Intelligent Solutions Stock Performance

Shares of CCCS opened at $8.52 on Monday. The firm’s fifty day simple moving average is $9.98 and its two-hundred day simple moving average is $10.96. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.25 and a 12 month high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $5.60 billion, a P/E ratio of 426.21 and a beta of 0.77.

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

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.