GW&K Investment Management LLC Has $80.01 Million Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

GW&K Investment Management LLC raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,821,079 shares of the company’s stock after acquiring an additional 117,407 shares during the period. GW&K Investment Management LLC owned about 1.04% of CCC Intelligent Solutions worth $80,011,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CCCS. Principal Financial Group Inc. grew its holdings in shares of CCC Intelligent Solutions by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock worth $316,001,000 after purchasing an additional 455,040 shares during the last quarter. Wasatch Advisors LP grew its stake in CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after buying an additional 4,716,587 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of CCC Intelligent Solutions by 29.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock worth $143,822,000 after buying an additional 2,752,950 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of CCC Intelligent Solutions by 35.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock valued at $95,571,000 after acquiring an additional 2,272,336 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of CCC Intelligent Solutions by 32.2% in the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company’s stock worth $82,284,000 after acquiring an additional 1,815,816 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCCS. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Piper Sandler reiterated a “neutral” rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $11.00 in a research report on Wednesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

CCC Intelligent Solutions Trading Up 1.2 %

Shares of CCCS opened at $10.43 on Friday. The stock’s fifty day simple moving average is $11.17 and its 200-day simple moving average is $11.22. 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 $6.84 billion, a PE ratio of 521.76 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88.

CCC Intelligent Solutions announced that its Board of Directors has approved a share repurchase program on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De bought 100,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.67% of the company’s stock.

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.