CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Bought by Crescent Park Management L.P.

Crescent Park Management L.P. raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 34.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 434,152 shares of the company’s stock after purchasing an additional 111,552 shares during the quarter. CCC Intelligent Solutions accounts for 2.0% of Crescent Park Management L.P.’s investment portfolio, making the stock its 15th biggest holding. Crescent Park Management L.P. owned about 0.07% of CCC Intelligent Solutions worth $5,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CCCS. Baker Tilly Wealth Management LLC lifted its position in 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 valued at $169,000 after purchasing an additional 888 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of CCC Intelligent Solutions by 6.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 16,760 shares of the company’s stock valued at $197,000 after buying an additional 960 shares during the period. CIBC Asset Management Inc boosted its stake in shares of CCC Intelligent Solutions by 5.9% in the fourth quarter. CIBC Asset Management Inc now owns 19,046 shares of the company’s stock valued at $223,000 after buying an additional 1,054 shares in the last quarter. Berry Wealth Group LP grew its holdings in CCC Intelligent Solutions by 5.8% during the fourth quarter. Berry Wealth Group LP now owns 20,224 shares of the company’s stock worth $237,000 after acquiring an additional 1,109 shares during the period. Finally, Arizona State Retirement System raised its position in CCC Intelligent Solutions by 1.0% in the fourth quarter. Arizona State Retirement System now owns 117,507 shares of the company’s stock worth $1,378,000 after acquiring an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Up 0.3 %

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. The firm’s 50-day moving average is $10.15 and its two-hundred day moving average is $11.01. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.68 and a 12-month high of $12.88. The company has a market capitalization of $5.96 billion, a PE ratio of 453.23 and a beta of 0.73.

CCC Intelligent Solutions declared that its board has authorized a share repurchase plan on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Activity at CCC Intelligent Solutions

In other news, CAO Rodney Christo sold 5,846 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total value of $53,490.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eileen Schloss sold 34,055 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the sale, the director now directly owns 54,047 shares in the company, valued at approximately $485,342.06. The trade was a 38.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,059,978 shares of company stock valued at $434,004,090. 6.67% of the stock is owned by corporate insiders.

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.