Eileen Schloss Sells 34,055 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Director Eileen Schloss sold 34,055 shares of the company’s 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 directly owns 54,047 shares in the company, valued at approximately $485,342.06. This represents 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.

CCC Intelligent Solutions Stock Down 0.6 %

Shares of NYSE CCCS opened at $9.00 on Friday. The firm has a market cap of $5.92 billion, a PE ratio of 450.23 and a beta of 0.73. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.83 and a 12-month high of $12.88. The company’s fifty day simple moving average is $10.44 and its 200 day simple moving average is $11.08. 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 declared that its Board of Directors has initiated a stock buyback program on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted 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 acquiring an additional 4,060,284 shares in the last quarter. Vanguard Group Inc. raised its holdings 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. raised its holdings 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 raised its holdings in CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after buying an additional 4,716,587 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in CCC Intelligent Solutions by 2.2% during the fourth quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company’s stock worth $164,613,000 after buying an additional 299,943 shares during the last quarter. 95.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Piper Sandler reaffirmed a “neutral” rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average 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.