CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,064,442 shares of the company’s stock after selling 1,378,065 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.23% of CCC Intelligent Solutions worth $93,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CCCS. Conestoga Capital Advisors LLC raised its position in CCC Intelligent Solutions by 29.0% in the 4th quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock valued at $143,822,000 after purchasing an additional 2,752,950 shares during the last quarter. Berry Wealth Group LP increased its stake in CCC Intelligent Solutions by 5.8% in the fourth quarter. Berry Wealth Group LP now owns 20,224 shares of the company’s stock valued at $237,000 after purchasing an additional 1,109 shares during the period. Chicago Partners Investment Group LLC raised its holdings in shares of CCC Intelligent Solutions by 21.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 17,686 shares of the company’s stock valued at $203,000 after buying an additional 3,090 shares during the last quarter. Norris Perne & French LLP MI boosted its stake in shares of CCC Intelligent Solutions by 11.0% during the fourth quarter. Norris Perne & French LLP MI now owns 378,769 shares of the company’s stock worth $4,443,000 after buying an additional 37,402 shares during the period. Finally, KBC Group NV grew its holdings in shares of CCC Intelligent Solutions by 55.9% during the fourth quarter. KBC Group NV now owns 16,075 shares of the company’s stock worth $189,000 after buying an additional 5,761 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $1,216,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Rodney Christo sold 75,000 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $12.01, for a total value of $900,750.00. The disclosure for this sale can be found here. Insiders have sold 347,511 shares of company stock valued at $4,267,236 in the last ninety days. Insiders own 6.67% of the company’s stock.

Analysts Set New Price Targets

CCCS has been the subject of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Barclays cut their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $10.88 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.88. The firm has a market capitalization of $7.14 billion, a P/E ratio of 544.27 and a beta of 0.71. The company’s fifty day moving average is $11.55 and its two-hundred day moving average is $11.21.

CCC Intelligent Solutions announced that its board has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.