Aster Capital Management DIFC Ltd Acquires New Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Aster Capital Management DIFC Ltd bought a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 61,930 shares of the company’s stock, valued at approximately $726,000.

A number of other large investors have also modified their holdings of CCCS. Vanguard Group Inc. grew its holdings in CCC Intelligent Solutions by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 51,387,172 shares of the company’s stock worth $602,772,000 after acquiring an additional 847,334 shares during the period. Principal Financial Group Inc. boosted its position in shares of CCC Intelligent Solutions by 1.7% during 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 in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of CCC Intelligent Solutions by 29.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock worth $143,822,000 after purchasing an additional 2,752,950 shares during the period. State Street Corp increased 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 valued at $82,284,000 after purchasing an additional 1,815,816 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of CCC Intelligent Solutions by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 7,281,891 shares of the company’s stock valued at $85,442,000 after purchasing an additional 77,631 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the business’s stock in a transaction that occurred 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 $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 SEC, which is available at the SEC website. Also, CAO Rodney Christo sold 20,077 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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. In the last 90 days, insiders have sold 42,087,456 shares of company stock worth $434,240,401. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Trading Down 0.8 %

Shares of CCCS opened at $8.52 on Friday. 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 $8.25 and a 1-year high of $12.88. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 426.21 and a beta of 0.77. The firm has a 50 day simple moving average of $9.98 and a 200-day simple moving average of $10.96.

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

Analysts Set New Price Targets

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

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.