CCC Intelligent Solutions (NYSE:CCCS) Reaches New 1-Year Low – Time to Sell?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) shares hit a new 52-week low on Monday . The stock traded as low as $8.68 and last traded at $8.93, with a volume of 1664994 shares trading hands. The stock had previously closed at $8.92.

Analyst Upgrades and Downgrades

Several research firms have 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 reiterated a “neutral” rating and issued a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, Barrington Research restated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.14.

CCC Intelligent Solutions Trading Up 0.3 %

The company’s fifty day moving average is $10.15 and its 200-day moving average is $11.01. 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 market capitalization of $5.96 billion, a P/E ratio of 453.23 and a beta of 0.73.

CCC Intelligent Solutions announced that its board has initiated a share buyback plan on Friday, December 20th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Eileen Schloss sold 34,055 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $8.98, for a total value of $305,813.90. Following the sale, the director now owns 54,047 shares in the company, valued at approximately $485,342.06. This trade represents a 38.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. The trade was a 94.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,059,978 shares of company stock valued at $434,004,090. 6.67% of the stock is owned by insiders.

Institutional Investors Weigh In On CCC Intelligent Solutions

Hedge funds have recently made changes to their positions in the stock. Eagle Bay Advisors LLC acquired a new position in CCC Intelligent Solutions in the 4th quarter valued at approximately $25,000. UMB Bank n.a. acquired a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at $28,000. TD Private Client Wealth LLC bought a new position in CCC Intelligent Solutions in the fourth quarter worth $31,000. Quarry LP bought a new stake in CCC Intelligent Solutions in the 4th quarter valued at $36,000. Finally, GAMMA Investing LLC raised its stake in shares of CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after buying an additional 2,479 shares in the last quarter. 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.