Principal Financial Group Inc. Acquires 455,040 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Principal Financial Group Inc. grew its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,939,551 shares of the company’s stock after purchasing an additional 455,040 shares during the period. Principal Financial Group Inc. owned approximately 4.11% of CCC Intelligent Solutions worth $316,001,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CCCS. Adero Partners LLC grew its stake in CCC Intelligent Solutions by 118.5% during the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after acquiring an additional 3,135,650 shares in the last quarter. Norman Fields Gottscho Capital Management LLC grew its stake in CCC Intelligent Solutions by 34.5% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock valued at $4,663,000 after acquiring an additional 101,885 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in CCC Intelligent Solutions by 45.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock valued at $1,824,000 after acquiring an additional 51,607 shares in the last quarter. Barclays PLC grew its stake in CCC Intelligent Solutions by 155.7% during the third quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after acquiring an additional 66,386 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in CCC Intelligent Solutions by 12.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 558,595 shares of the company’s stock valued at $6,172,000 after acquiring an additional 61,660 shares in the last quarter. Institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Trading Down 1.7 %

NYSE:CCCS opened at $10.75 on Monday. The company has a fifty day moving average of $11.48 and a 200 day moving average of $11.21. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week 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 firm has a market capitalization of $7.05 billion, a P/E ratio of 537.77 and a beta of 0.71.

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

Insider Activity at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 75,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $12.01, for a total transaction of $900,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mary Jo Prigge sold 19,276 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $12.67, for a total transaction of $244,226.92. Following the completion of the transaction, the insider now owns 97,268 shares of the company’s stock, valued at $1,232,385.56. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,511 shares of company stock worth $4,267,236 in the last three months. 6.67% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on CCCS shares. 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 shares of 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. boosted their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Finally, 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and a consensus target price of $14.00.

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.