New York State Common Retirement Fund Has $27.86 Million Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

New York State Common Retirement Fund raised its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,374,871 shares of the company’s stock after purchasing an additional 3,736 shares during the period. New York State Common Retirement Fund owned approximately 0.36% of CCC Intelligent Solutions worth $27,857,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $25,000. UMB Bank n.a. acquired a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $28,000. Advisors Asset Management Inc. raised its position in CCC Intelligent Solutions by 153.0% during the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after purchasing an additional 1,729 shares in the last quarter. GAMMA Investing LLC raised its position in CCC Intelligent Solutions by 286.9% during the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Financial Management Professionals Inc. acquired a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $54,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock opened at $10.43 on Friday. 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 twelve month low of $9.79 and a twelve month high of $12.88. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 521.76 and a beta of 0.71. The company’s fifty day moving average is $11.31 and its 200 day moving average is $11.21.

CCC Intelligent Solutions announced that its Board of Directors has approved a share buyback plan on Friday, December 20th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 19,276 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total transaction of $244,226.92. Following the sale, the insider now owns 97,268 shares of the company’s stock, valued at approximately $1,232,385.56. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Rodney Christo sold 9,916 shares of the company’s stock in a transaction on Monday, November 25th. The shares were 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 currently owned by insiders.

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.