(RTTNews) - CCC Intelligent Solutions Holdings Inc. (CCC) on Friday, the Board approved a new share repurchase program worth $500 million, after fully using up the previous $300 million authorization from December 2024.
As part of this new initiative, the company has entered a $300 million accelerated share repurchase agreement with Bank of America. This deal will allow CCC to buy back an initial 33.2 million shares, with the final amount depending on the stock's volume-weighted average price throughout the program.
The accelerated share repurchase is anticipated to wrap up by the end of Q2 2026, and CCC will still have $200 million left for more buybacks.
CCC is currently trading at $7.80 up $0.58 or 8.03 percent on the Nasdaq.
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