CCC Intelligent Solutions (NYSE:CCCS) Stock Price Down 3.1% – Should You Sell?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) traded down 3.1% on Wednesday . The stock traded as low as $8.79 and last traded at $8.78. 4,022,365 shares traded hands during trading, a decline of 40% from the average session volume of 6,748,089 shares. The stock had previously closed at $9.06.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Piper Sandler reissued a “neutral” rating and issued a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.14.

CCC Intelligent Solutions Trading Down 1.9 %

The company has a 50 day moving average price of $10.15 and a 200 day moving average price of $11.01. 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 firm has a market cap of $5.85 billion, a price-to-earnings ratio of 444.72 and a beta of 0.73.

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

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, Director Eileen Schloss sold 34,055 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 54,047 shares of the company’s stock, valued at $485,342.06. This trade represents a 38.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Rodney Christo sold 20,077 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total value of $204,785.40. The disclosure for this sale can be found here. Insiders have sold a total of 42,059,978 shares of company stock valued at $434,004,090 over the last quarter. 6.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. raised its holdings in shares of CCC Intelligent Solutions by 6.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company’s stock valued at $807,807,000 after purchasing an additional 4,060,284 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 valued at $602,772,000 after buying an additional 847,334 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of CCC Intelligent Solutions by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 26,939,551 shares of the company’s stock worth $316,001,000 after acquiring an additional 455,040 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of CCC Intelligent Solutions by 2.2% in the 4th quarter. Brown Advisory Inc. now owns 14,033,496 shares of the company’s stock valued at $164,613,000 after acquiring an additional 299,943 shares during the period. Finally, Conestoga Capital Advisors LLC raised 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 last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

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.