CCC Intelligent Solutions (NYSE:CCCS) Reaches New 12-Month Low on Insider Selling

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday following insider selling activity. The stock traded as low as $8.14 and last traded at $8.50, with a volume of 5461271 shares traded. The stock had previously closed at $8.52.

Specifically, Director Eileen Schloss sold 27,478 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the sale, the director now directly owns 26,569 shares in the company, valued at $228,493.40. The trade was a 50.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analyst Ratings Changes

CCCS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. 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 research note on Wednesday, February 26th. Finally, Barrington Research reissued an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.14.

CCC Intelligent Solutions Trading Up 2.0 %

The company has a 50 day simple moving average of $9.64 and a two-hundred day simple moving average of $10.85. 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 company has a market cap of $5.91 billion, a PE ratio of 449.72 and a beta of 0.77.

CCC Intelligent Solutions declared that its board has authorized a stock buyback plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC purchased a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $25,000. UMB Bank n.a. acquired a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at about $28,000. TD Private Client Wealth LLC acquired a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at about $31,000. Quarry LP bought a new stake in shares of CCC Intelligent Solutions in the 4th quarter valued at approximately $36,000. Finally, GAMMA Investing LLC increased its holdings 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 buying an additional 2,479 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Company 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.