Edmond DE Rothschild Holding S.A. Purchases 2,492,900 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Edmond DE Rothschild Holding S.A. grew its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 66.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,219,470 shares of the company’s stock after buying an additional 2,492,900 shares during the quarter. CCC Intelligent Solutions makes up about 1.2% of Edmond DE Rothschild Holding S.A.’s investment portfolio, making the stock its 16th largest holding. Edmond DE Rothschild Holding S.A. owned approximately 0.95% of CCC Intelligent Solutions worth $72,954,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at approximately $50,032,000. JPMorgan Chase & Co. boosted its holdings in CCC Intelligent Solutions by 753.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,873,418 shares of the company’s stock worth $45,435,000 after acquiring an additional 3,419,507 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of 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 last quarter. Raymond James Financial Inc. bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at $31,020,000. Finally, State Street Corp boosted its stake 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 worth $82,284,000 after purchasing an additional 1,815,816 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eric Wei sold 42,000,000 shares of the company’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 directly owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction 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 90 days, insiders sold 42,059,978 shares of company stock worth $434,004,090. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $8.92 on Monday. The firm has a market cap of $5.87 billion, a PE ratio of 446.22 and a beta of 0.73. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.56 and a 1-year high of $12.88. 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 firm has a fifty day simple moving average of $10.24 and a two-hundred day simple moving average of $11.04.

CCC Intelligent Solutions declared that its Board of Directors has initiated a share buyback plan on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.