CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Stock Holdings Increased by Marco Investment Management LLC

Marco Investment Management LLC increased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 29.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,275 shares of the company’s stock after buying an additional 3,050 shares during the quarter. Marco Investment Management LLC’s holdings in CCC Intelligent Solutions were worth $156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at about $25,000. UMB Bank n.a. bought a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $28,000. Advisors Asset Management Inc. lifted its stake in CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after acquiring an additional 1,729 shares during the last quarter. GAMMA Investing LLC grew its position in CCC Intelligent Solutions by 286.9% in the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after acquiring an additional 2,479 shares in the last quarter. Finally, Financial Management Professionals Inc. acquired a new position in shares of CCC Intelligent Solutions during the 4th quarter worth $54,000. 95.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Insider Activity

In other news, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction 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. This represents a 94.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of the stock in a transaction dated 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. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Price Performance

Shares of NYSE:CCCS opened at $9.29 on Friday. 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 business has a 50 day moving average price of $10.96 and a 200 day moving average price of $11.20. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 464.73 and a beta of 0.73. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.98 and a twelve month high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has approved 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 purchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.