Trust Point Inc. Has $816,000 Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Trust Point Inc. trimmed its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 25.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,582 shares of the company’s stock after selling 23,433 shares during the period. Trust Point Inc.’s holdings in CCC Intelligent Solutions were worth $816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CCCS. 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 valued at $158,358,000 after buying an additional 4,716,587 shares in the last quarter. Adero Partners LLC boosted its holdings in CCC Intelligent Solutions by 118.5% in the 3rd quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after purchasing an additional 3,135,650 shares during the period. Conestoga Capital Advisors LLC lifted its stake in shares of CCC Intelligent Solutions by 29.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock valued at $143,822,000 after buying an additional 2,752,950 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of CCC Intelligent Solutions by 35.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock worth $95,571,000 after acquiring an additional 2,272,336 shares during the period. Finally, State Street Corp boosted its stake in CCC Intelligent Solutions by 32.2% during the third quarter. State Street Corp now owns 7,446,518 shares of the company’s stock worth $82,284,000 after buying an additional 1,815,816 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Performance

CCCS opened at $10.96 on Wednesday. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 548.27 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.88. The business’s 50-day moving average price is $11.75 and its two-hundred day moving average price is $11.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions announced that its board has authorized a share buyback program on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CCCS shares. Barclays decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Barrington Research reissued an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upped their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $13.89.

Insider Transactions at CCC Intelligent Solutions

In other news, Director Crescenzo Neil E. De acquired 100,000 shares of CCC Intelligent Solutions stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the purchase, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Githesh Ramamurthy sold 9,348 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the transaction, the insider now owns 4,798,040 shares in the company, valued at approximately $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 443,153 shares of company stock worth $5,390,863. Company insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions 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.