CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. lessened its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,607,027 shares of the company’s stock after selling 709,529 shares during the period. CCC Intelligent Solutions accounts for approximately 2.3% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 22nd biggest holding. Van Berkom & Associates Inc.’s holdings in CCC Intelligent Solutions were worth $77,500,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CCCS. Baker Tilly Wealth Management LLC raised its position in shares of CCC Intelligent Solutions by 6.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company’s stock worth $169,000 after purchasing an additional 888 shares during the period. Central Pacific Bank Trust Division grew its stake in CCC Intelligent Solutions by 6.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company’s stock worth $197,000 after buying an additional 960 shares during the last quarter. CIBC Asset Management Inc increased its position in CCC Intelligent Solutions by 5.9% in the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock worth $223,000 after buying an additional 1,054 shares during the period. Berry Wealth Group LP lifted 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 buying an additional 1,109 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of CCC Intelligent Solutions by 5.8% during the third quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock valued at $262,000 after acquiring an additional 1,299 shares during the period. Institutional investors own 95.79% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at CCC Intelligent Solutions

In related news, insider Mary Jo Prigge sold 19,276 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $244,226.92. Following the completion of the sale, the insider now owns 97,268 shares in the company, valued at approximately $1,232,385.56. This represents a 16.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 9,916 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $12.67, for a total transaction of $125,635.72. The disclosure for this sale can be found here. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Price Performance

NYSE CCCS opened at $10.57 on Friday. The stock has a market capitalization of $6.94 billion, a P/E ratio of 528.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The business’s fifty day moving average is $11.34 and its two-hundred day moving average is $11.21. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has authorized a share repurchase plan on Friday, December 20th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy 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.

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.