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

Van Berkom & Associates Inc. trimmed its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,607,027 shares of the company’s stock after selling 709,529 shares during the period. CCC Intelligent Solutions accounts for about 2.3% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 22nd largest position. Van Berkom & Associates Inc. owned about 1.01% of CCC Intelligent Solutions worth $77,500,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Adero Partners LLC lifted its holdings in shares of CCC Intelligent Solutions by 118.5% in the third quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after purchasing an additional 3,135,650 shares in the last quarter. Norman Fields Gottscho Capital Management LLC raised its position in shares of CCC Intelligent Solutions by 34.5% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock worth $4,663,000 after purchasing an additional 101,885 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in CCC Intelligent Solutions by 45.5% in the 3rd 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 buying an additional 51,607 shares in the last quarter. Barclays PLC grew its holdings in CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after buying an additional 66,386 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position 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 worth $6,172,000 after buying an additional 61,660 shares in the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CAO Rodney Christo sold 9,916 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Jo Prigge sold 19,276 shares of the firm’s 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 $244,226.92. Following the sale, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,232,385.56. The trade was a 16.54 % decrease in their position. The disclosure for this sale can be found here. 6.67% of the stock is currently owned by company insiders.

CCC Intelligent Solutions Trading Down 0.1 %

NYSE CCCS opened at $10.57 on Friday. The company’s fifty day simple moving average is $11.34 and its 200-day simple moving average is $11.21. The stock has a market cap of $6.94 billion, a P/E ratio of 528.76 and a beta of 0.71. 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 current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

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