Global Retirement Partners LLC Grows Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Global Retirement Partners LLC boosted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1,878.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,628 shares of the company’s stock after acquiring an additional 23,383 shares during the period. Global Retirement Partners LLC’s holdings in CCC Intelligent Solutions were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Truist Financial Corp lifted its holdings in shares of CCC Intelligent Solutions by 3.5% during the fourth quarter. Truist Financial Corp now owns 403,425 shares of the company’s stock valued at $4,732,000 after purchasing an additional 13,598 shares during the last quarter. CIBC Asset Management Inc increased its position in CCC Intelligent Solutions by 5.9% during the 4th quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock valued at $223,000 after buying an additional 1,054 shares in the last quarter. Sanctuary Advisors LLC raised its stake in CCC Intelligent Solutions by 228.3% during the fourth quarter. Sanctuary Advisors LLC now owns 40,366 shares of the company’s stock valued at $451,000 after buying an additional 28,070 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in CCC Intelligent Solutions by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock worth $316,001,000 after acquiring an additional 455,040 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in shares of CCC Intelligent Solutions by 108.8% in the fourth quarter. Principal Securities Inc. now owns 28,391 shares of the company’s stock worth $333,000 after acquiring an additional 14,791 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Insider Activity

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction dated 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 transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CCCS. JPMorgan Chase & Co. lifted their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday. Piper Sandler restated a “neutral” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, Barclays lowered their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.00.

CCC Intelligent Solutions Stock Down 1.9 %

Shares of CCC Intelligent Solutions stock opened at $10.23 on Tuesday. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 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. The company’s 50 day moving average is $11.27 and its 200 day moving average is $11.23. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 511.76 and a beta of 0.71.

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

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.