Crescent Park Management L.P. Grows Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Crescent Park Management L.P. boosted its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 34.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 434,152 shares of the company’s stock after buying an additional 111,552 shares during the period. CCC Intelligent Solutions accounts for approximately 2.0% of Crescent Park Management L.P.’s holdings, making the stock its 15th largest holding. Crescent Park Management L.P.’s holdings in CCC Intelligent Solutions were worth $5,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC boosted its position in shares of CCC Intelligent Solutions by 6.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 14,386 shares of the company’s stock worth $169,000 after acquiring an additional 888 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in CCC Intelligent Solutions by 6.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company’s stock worth $197,000 after purchasing an additional 960 shares during the period. CIBC Asset Management Inc raised its stake in CCC Intelligent Solutions by 5.9% during the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock worth $223,000 after purchasing an additional 1,054 shares during the period. Berry Wealth Group LP grew its stake in shares of CCC Intelligent Solutions by 5.8% during the 4th 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 period. Finally, Arizona State Retirement System increased its holdings in shares of CCC Intelligent Solutions by 1.0% during the 4th quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock worth $1,378,000 after buying an additional 1,150 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CCCS. Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $11.00 in a research note on Wednesday, February 26th. Finally, Piper Sandler reissued a “neutral” rating and set a $11.00 target price (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.14.

Insider Buying and Selling

In related news, Director Eileen Schloss sold 34,055 shares of CCC Intelligent Solutions stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.98, for a total transaction of $305,813.90. Following the sale, the director now owns 54,047 shares of the company’s stock, valued at $485,342.06. The trade was a 38.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rodney Christo sold 5,846 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total transaction of $53,490.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,059,978 shares of company stock valued at $434,004,090. Corporate insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $9.06 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.68 and a 1-year high of $12.88. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 453.23 and a beta of 0.73. The business has a 50-day moving average of $10.15 and a 200-day moving average of $11.01.

CCC Intelligent Solutions declared that its board has approved a stock buyback program on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board 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.