Russell Investments Group Ltd. Has $6.05 Million Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Russell Investments Group Ltd. raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 515,372 shares of the company’s stock after purchasing an additional 11,785 shares during the period. Russell Investments Group Ltd.’s holdings in CCC Intelligent Solutions were worth $6,045,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CCCS. Vanguard Group Inc. boosted its holdings in CCC Intelligent Solutions by 1.7% in 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of CCC Intelligent Solutions by 1.7% in 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 position in CCC Intelligent Solutions by 29.0% in the 4th 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 period. State Street Corp grew its position in 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 during the period. Finally, Geode Capital Management LLC raised its holdings in CCC Intelligent Solutions by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 7,281,891 shares of the company’s stock worth $85,442,000 after buying an additional 77,631 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eric Wei sold 42,000,000 shares of the firm’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 transaction of $433,440,000.00. Following the completion of the sale, the director now owns 2,258,343 shares in the company, valued at $23,306,099.76. This trade represents a 94.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction that occurred on 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 quarter, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. Insiders own 6.67% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CCCS. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Piper Sandler reissued 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, Barrington Research reaffirmed an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and an average price target of $13.14.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $8.99 on Monday. The company has a market capitalization of $5.91 billion, a PE ratio of 449.72 and a beta of 0.77. 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’s 50 day moving average price is $9.64 and its 200-day moving average price is $10.85. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88.

CCC Intelligent Solutions announced that its Board of Directors has authorized a stock repurchase program on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board 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.