JPMorgan Chase & Co. Boosts Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

JPMorgan Chase & Co. lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 753.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,873,418 shares of the company’s stock after purchasing an additional 3,419,507 shares during the period. JPMorgan Chase & Co.’s holdings in CCC Intelligent Solutions were worth $45,435,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Bay Advisors LLC purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter worth $25,000. UMB Bank n.a. bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at about $28,000. TD Private Client Wealth LLC purchased a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth about $31,000. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in CCC Intelligent Solutions during the 4th quarter valued at about $54,000. 95.79% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Eileen Schloss sold 27,478 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $8.60, for a total transaction of $236,310.80. Following the completion of the transaction, the director now owns 26,569 shares of the company’s stock, valued at $228,493.40. This trade represents a 50.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value 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. Corporate insiders own 6.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCCS. Piper Sandler reiterated a “neutral” rating and issued a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $13.14.

CCC Intelligent Solutions Trading Down 0.8 %

NYSE CCCS opened at $8.52 on Monday. The stock’s 50 day moving average is $9.98 and its 200 day moving average is $10.96. 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 $5.60 billion, a PE ratio of 426.21 and a beta of 0.77. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.25 and a twelve month high of $12.88.

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