CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock Position Trimmed by Cerity Partners LLC

Cerity Partners LLC decreased its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 6.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 226,881 shares of the company’s stock after selling 16,237 shares during the period. Cerity Partners LLC’s holdings in CCC Intelligent Solutions were worth $2,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CCCS. Eagle Bay Advisors LLC bought a new position in CCC Intelligent Solutions in the 4th quarter worth approximately $25,000. UMB Bank n.a. acquired a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at $28,000. TD Private Client Wealth LLC bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at about $31,000. GAMMA Investing LLC lifted its holdings in CCC Intelligent Solutions by 286.9% in the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after purchasing an additional 2,479 shares during the period. Finally, Financial Management Professionals Inc. bought a new position in CCC Intelligent Solutions in the 4th quarter valued at about $54,000. Institutional investors own 95.79% of the company’s stock.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction on 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 owns 54,047 shares of the company’s stock, valued at $485,342.06. This trade represents a 38.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the firm’s stock in a transaction dated 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. In the last 90 days, insiders sold 42,087,456 shares of company stock worth $434,240,401. 6.67% of the stock is owned by corporate insiders.

CCC Intelligent Solutions Stock Down 1.0 %

Shares of CCC Intelligent Solutions stock opened at $8.84 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The firm has a market capitalization of $5.83 billion, a PE ratio of 442.22 and a beta of 0.77. The stock’s fifty day moving average is $9.56 and its 200-day moving average is $10.82.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share buyback program on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CCCS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of 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 report on Wednesday, February 26th. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Piper Sandler reiterated 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, Barclays cut their price objective on CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.86.

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.