State of New Jersey Common Pension Fund D Has $2.09 Million Stock Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

State of New Jersey Common Pension Fund D decreased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 3.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 178,197 shares of the company’s stock after selling 5,638 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CCC Intelligent Solutions were worth $2,090,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. boosted its position in CCC Intelligent Solutions by 108.8% during the fourth quarter. Principal Securities Inc. now owns 28,391 shares of the company’s stock valued at $333,000 after purchasing an additional 14,791 shares during the last quarter. Rhumbline Advisers boosted its position in CCC Intelligent Solutions by 2.5% during the fourth quarter. Rhumbline Advisers now owns 408,502 shares of the company’s stock valued at $4,792,000 after purchasing an additional 10,077 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in 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 valued at $143,822,000 after purchasing an additional 2,752,950 shares during the last quarter. Berry Wealth Group LP boosted its position 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 valued at $237,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of CCC Intelligent Solutions by 21.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 17,686 shares of the company’s stock worth $203,000 after buying an additional 3,090 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Mary Jo Prigge sold 19,276 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $12.67, for a total transaction of $244,226.92. Following the transaction, the insider now directly owns 97,268 shares in the company, valued at $1,232,385.56. The trade was a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rodney Christo sold 9,916 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The disclosure for this sale can be found here. 6.67% of the stock is owned by insiders.

Analysts Set New Price Targets

CCCS has been the subject of a number of analyst reports. Barclays reduced their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.00.

CCC Intelligent Solutions Price Performance

NYSE CCCS opened at $10.43 on Friday. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The stock has a market capitalization of $6.84 billion, a PE ratio of 521.76 and a beta of 0.71. The stock has a 50-day simple moving average of $11.31 and a 200 day simple moving average of $11.22.

CCC Intelligent Solutions declared that its Board of Directors has initiated a stock repurchase plan on Friday, December 20th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

CCC Intelligent Solutions 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.