1,000,000 Shares in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Bought by Sellaronda Global Management LP

Sellaronda Global Management LP bought a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000,000 shares of the company’s stock, valued at approximately $11,730,000. CCC Intelligent Solutions comprises approximately 11.8% of Sellaronda Global Management LP’s portfolio, making the stock its 3rd largest holding. Sellaronda Global Management LP owned 0.15% of CCC Intelligent Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. Norges Bank purchased a new stake in CCC Intelligent Solutions in the fourth quarter valued at about $50,032,000. JPMorgan Chase & Co. increased its holdings in shares of CCC Intelligent Solutions by 753.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,873,418 shares of the company’s stock valued at $45,435,000 after acquiring an additional 3,419,507 shares in the last quarter. Pamalican Asset Management Ltd purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter worth $33,773,000. Conestoga Capital Advisors LLC lifted its stake 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 during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at $31,020,000. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the transaction, the director now owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rodney Christo sold 20,077 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,087,456 shares of company stock worth $434,240,401. 6.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CCCS has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Piper Sandler restated a “neutral” rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $13.14.

CCC Intelligent Solutions Stock Performance

Shares of CCCS stock opened at $8.46 on Tuesday. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $8.14 and a 52-week high of $12.88. 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 stock has a market cap of $5.56 billion, a PE ratio of 423.21 and a beta of 0.77. The business has a 50-day simple moving average of $9.93 and a 200-day simple moving average of $10.95.

CCC Intelligent Solutions declared that its Board of Directors has authorized a stock buyback program on Friday, December 20th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.