T. Rowe Price Investment Management Inc. Grows Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

T. Rowe Price Investment Management Inc. raised its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,866,717 shares of the company's stock after buying an additional 4,060,284 shares during the period. T. Rowe Price Investment Management Inc. owned about 10.49% of CCC Intelligent Solutions worth $807,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Norman Fields Gottscho Capital Management LLC grew its stake in CCC Intelligent Solutions by 34.5% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company's stock worth $4,663,000 after purchasing an additional 101,885 shares in the last quarter. Barclays PLC grew its position in shares of CCC Intelligent Solutions by 155.7% during the 3rd quarter. Barclays PLC now owns 109,020 shares of the company's stock worth $1,205,000 after buying an additional 66,386 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of CCC Intelligent Solutions by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company's stock worth $5,016,000 after buying an additional 85,725 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at $28,000. Finally, Conestoga Capital Advisors LLC lifted its stake in CCC Intelligent Solutions by 29.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company's stock worth $143,822,000 after acquiring an additional 2,752,950 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CCCS. Barrington Research restated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. Morgan Stanley cut their price target on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler restated 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, Barclays reduced their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.57.

Insiders Place Their Bets

In related news, Director Eileen Schloss sold 27,478 shares of CCC Intelligent Solutions stock in a transaction dated 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 sale, the director now owns 26,569 shares of the company's stock, valued at $228,493.40. The trade was a 50.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rodney Christo sold 20,077 shares of the 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. In the last quarter, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. Insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Stock Down 0.8 %

Shares of CCCS stock traded down $0.08 during trading hours on Monday, reaching $8.90. 919,242 shares of the company's stock were exchanged, compared to its average volume of 7,187,219. The stock has a market cap of $5.86 billion, a PE ratio of 444.97 and a beta of 0.77. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The stock's fifty day moving average price is $9.22 and its two-hundred day moving average price is $10.71. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88.

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.