Teacher Retirement System of Texas Acquires 83,533 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Teacher Retirement System of Texas lifted its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 105.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 162,619 shares of the company’s stock after purchasing an additional 83,533 shares during the period. Teacher Retirement System of Texas’ holdings in CCC Intelligent Solutions were worth $1,908,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its position in shares of CCC Intelligent Solutions by 45.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock worth $1,824,000 after buying an additional 51,607 shares during the period. Norman Fields Gottscho Capital Management LLC boosted its stake in CCC Intelligent Solutions by 34.5% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock worth $4,663,000 after acquiring an additional 101,885 shares during the last quarter. Barclays PLC grew its holdings in CCC Intelligent Solutions by 155.7% during the third quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after purchasing an additional 66,386 shares during the period. HighTower Advisors LLC increased its stake in CCC Intelligent Solutions by 1,355.0% in the third quarter. HighTower Advisors LLC now owns 602,797 shares of the company’s stock valued at $6,662,000 after purchasing an additional 561,367 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of CCC Intelligent Solutions by 23.3% during the third quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company’s stock worth $5,016,000 after purchasing an additional 85,725 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Piper Sandler reiterated a “neutral” rating and set a $11.00 price objective (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 lowered their target price for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.14.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $9.07 on Friday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.83 and a twelve month high of $12.88. The stock has a market capitalization of $5.96 billion, a P/E ratio of 453.73 and a beta of 0.73. The company has a 50 day moving average of $10.29 and a 200-day moving average of $11.04.

CCC Intelligent Solutions announced that its board has approved a stock repurchase plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CAO Rodney Christo sold 5,846 shares of CCC Intelligent Solutions stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $9.15, for a total value of $53,490.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eileen Schloss sold 34,055 shares of the 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 transaction, the director now directly owns 54,047 shares of the company’s stock, valued at $485,342.06. This trade represents a 38.65 % decrease in their ownership of the stock. 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 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.