CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report) Director Eileen Schloss sold 34,055 shares of the company'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 transaction, the director now directly owns 54,047 shares of the company's stock, valued at $485,342.06. This represents a 38.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
CCC Intelligent Solutions Stock Performance
NYSE CCCS opened at $9.00 on Friday. The stock has a market cap of $5.92 billion, a P/E ratio of 450.23 and a beta of 0.73. The company's 50-day simple moving average is $10.44 and its 200 day simple moving average is $11.08. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.83 and a twelve month high of $12.88. 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 announced that its Board of Directors has authorized a stock buyback program on Friday, December 20th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.
Institutional Trading of CCC Intelligent Solutions
Several large investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its stake in CCC Intelligent Solutions by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company's stock worth $807,807,000 after buying an additional 4,060,284 shares during the last quarter. Vanguard Group Inc. grew its stake in CCC Intelligent Solutions by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company's stock worth $602,772,000 after buying an additional 847,334 shares during the last quarter. Principal Financial Group Inc. grew its stake in CCC Intelligent Solutions by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company's stock worth $316,001,000 after buying an additional 455,040 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company's stock valued at $158,358,000 after purchasing an additional 4,716,587 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of CCC Intelligent Solutions by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company's stock valued at $164,613,000 after purchasing an additional 299,943 shares during the last quarter. 95.79% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently commented on CCCS. Piper Sandler reaffirmed a "neutral" rating and set a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Barrington Research reaffirmed an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, CCC Intelligent Solutions has an average rating of "Moderate Buy" and a consensus price target of $13.14.
Read Our Latest Report on CCC Intelligent Solutions
CCC Intelligent Solutions Company Profile
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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.
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