CCC Intelligent Solutions (NYSE:CCCS) Reaches New 1-Year Low on Insider Selling

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)’s stock price reached a new 52-week low during trading on Monday after an insider sold shares in the company. The company traded as low as $8.14 and last traded at $8.50, with a volume of 5461271 shares. The stock had previously closed at $8.52.

Specifically, Director Eileen Schloss sold 27,478 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total value of $236,310.80. Following the transaction, the director now directly owns 26,569 shares of the company’s stock, valued at approximately $228,493.40. The trade was a 50.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

CCCS has been the topic of a number of research reports. Barrington Research reiterated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. JPMorgan Chase & Co. downgraded 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. Finally, Piper Sandler restated a “neutral” rating and set a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.14.

CCC Intelligent Solutions Price Performance

The stock has a market cap of $5.44 billion, a P/E ratio of 414.21 and a beta of 0.77. 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 business has a 50 day simple moving average of $9.81 and a 200-day simple moving average of $10.91.

CCC Intelligent Solutions declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of hedge funds have recently modified their holdings of the stock. Eagle Bay Advisors LLC purchased a new stake in CCC Intelligent Solutions during the fourth quarter valued at about $25,000. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at $28,000. TD Private Client Wealth LLC purchased a new stake in CCC Intelligent Solutions during the 4th quarter worth about $31,000. Quarry LP bought a new position in CCC Intelligent Solutions in the 4th quarter worth about $36,000. Finally, GAMMA Investing LLC lifted its stake in CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after purchasing an additional 2,479 shares in the last quarter. Institutional investors own 95.79% 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.