Wrapmanager Inc. Decreases Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Wrapmanager Inc. lowered its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,632 shares of the company’s stock after selling 5,109 shares during the quarter. Wrapmanager Inc.’s holdings in CCC Intelligent Solutions were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCCS. First Horizon Advisors Inc. boosted its holdings in shares of CCC Intelligent Solutions by 90.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company’s stock valued at $69,000 after buying an additional 2,805 shares in the last quarter. Hardy Reed LLC lifted its position in CCC Intelligent Solutions by 11.2% during the fourth quarter. Hardy Reed LLC now owns 23,955 shares of the company’s stock valued at $281,000 after acquiring an additional 2,415 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in CCC Intelligent Solutions by 74.4% in the fourth quarter. Handelsbanken Fonder AB now owns 115,100 shares of the company’s stock valued at $1,350,000 after acquiring an additional 49,100 shares in the last quarter. Global Retirement Partners LLC boosted its stake in CCC Intelligent Solutions by 1,878.2% in the fourth quarter. Global Retirement Partners LLC now owns 24,628 shares of the company’s stock valued at $289,000 after acquiring an additional 23,383 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in CCC Intelligent Solutions by 3.5% in the fourth quarter. Truist Financial Corp now owns 403,425 shares of the company’s stock worth $4,732,000 after purchasing an additional 13,598 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, 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 SEC, which is accessible through the SEC website. 6.67% of the stock is owned by corporate insiders.

CCC Intelligent Solutions Trading Up 0.7 %

Shares of NYSE:CCCS opened at $10.30 on Wednesday. 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 Holdings Inc. has a 52-week low of $9.79 and a 52-week high of $12.88. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 515.26 and a beta of 0.71. The business has a 50-day moving average price of $11.23 and a 200-day moving average price of $11.23.

CCC Intelligent Solutions announced that its Board of Directors has approved a share repurchase program on Friday, December 20th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

CCC Intelligent Solutions Company 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.