Brown Advisory Inc. Boosts Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Brown Advisory Inc. increased its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,033,496 shares of the company’s stock after acquiring an additional 299,943 shares during the period. Brown Advisory Inc. owned about 2.14% of CCC Intelligent Solutions worth $164,613,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CCCS. Price T Rowe Associates Inc. MD boosted its stake in shares of CCC Intelligent Solutions by 4,172.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,837,354 shares of the company’s stock valued at $115,394,000 after purchasing an additional 9,607,085 shares in the last quarter. Norges Bank bought a new stake in CCC Intelligent Solutions in the fourth quarter worth $50,032,000. T. Rowe Price Investment Management Inc. boosted its position in CCC Intelligent Solutions by 6.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 68,866,717 shares of the company’s stock valued at $807,807,000 after buying an additional 4,060,284 shares during the period. JPMorgan Chase & Co. grew its stake in shares of CCC Intelligent Solutions by 753.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,873,418 shares of the company’s stock valued at $45,435,000 after buying an additional 3,419,507 shares during the last quarter. Finally, Pamalican Asset Management Ltd purchased a new position in shares of CCC Intelligent Solutions in the fourth quarter worth about $33,773,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $9.26 on Friday. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $8.14 and a 1 year high of $12.88. The stock has a market capitalization of $6.10 billion, a P/E ratio of 463.23 and a beta of 0.77. The company’s 50-day moving average is $9.10 and its 200 day moving average is $10.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

Analyst Ratings Changes

CCCS has been the topic of several recent research reports. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. 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 note on Wednesday, February 26th. Barclays dropped their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $11.00 target price (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.57.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares of the company’s stock, valued at $23,306,099.76. This represents a 94.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The shares were 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 three months, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. 6.03% of the stock is currently owned by corporate 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.