CCC Intelligent (CCC) Solutions Up 6.37% on $500-Million Buyback

We precocious published 10 Big Names Leaving Wall Street successful the Dust; 4 astatine Fresh Highs. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) is 1 of the champion performers connected Friday.

CCC Intelligent Solutions jumped by 6.37 percent connected Friday to adjacent astatine $7.68 apiece aft announcing plans to bargain backmost much of its shares for a full of $500 million.

In a statement, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) said that its Board of Directors approved the 2nd circular of the stock repurchase programme aft successfully completing the archetypal circular approved successful December past twelvemonth amounting to $300 million.

In enactment with the plan, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) entered into an accelerated stock repurchase (ASR) programme with the Bank of America for the bargain backmost of $300 cardinal worthy of its shares, which it would money done caller word loans nether its existing recognition agreement.

The listed steadfast volition person astir 33.2 cardinal shares from the ASR, representing astir 80 percent of the full fig of shares expected to beryllium repurchased. Closing of the transaction is expected by the extremity of the 2nd 4th of 2026.

Meanwhile, the remaining $200 cardinal whitethorn beryllium spent done unfastened marketplace purchases, privately negotiated transactions, oregon different circular of ASR, depending connected marketplace conditions and currency availability.

“This caller authorization and accelerated stock repurchase underscore our assurance successful CCC’s semipermanent maturation trajectory, robust escaped currency travel and disciplined attack to superior allocation,” said CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) Chairman and CEO Githesh Ramamurthy.

”Our beardown equilibrium expanse gives america the flexibility to proceed to innovate for our customers and put successful the concern portion besides delivering returns to shareholders,” helium added.

While we admit the imaginable of CCC arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.