CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) saw a 6.37% jump, reaching $7.68 per share on Friday after announcing a $500 million share buyback plan. The company previously completed a $300 million repurchase program approved in December last year.

CCC Intelligent Solutions entered an accelerated share repurchase (ASR) program with Bank of America to repurchase $300 million of shares. Approximately 33.2 million shares will be repurchased, representing 80% of the total. The transaction is expected to close by the end of the second quarter of 2026.

The company plans to spend the remaining $200 million on open market purchases, privately negotiated transactions, or another ASR round, depending on market conditions. CCC’s Chairman and CEO, Githesh Ramamurthy, expressed confidence in the company’s growth and capital allocation strategy.

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Read more at Yahoo Finance: CCC Intelligent (CCC) Solutions Up 6.37% on $500-Million Buyback