Conestoga Capital Advisors LLC Boosts Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Conestoga Capital Advisors LLC raised its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,439,365 shares of the company's stock after buying an additional 178,330 shares during the period. CCC Intelligent Solutions comprises approximately 1.7% of Conestoga Capital Advisors LLC's holdings, making the stock its 24th largest position. Conestoga Capital Advisors LLC owned approximately 1.89% of CCC Intelligent Solutions worth $112,327,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new position in CCC Intelligent Solutions in the 4th quarter worth $31,000. Quarry LP bought a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at $36,000. First Horizon Advisors Inc. lifted its stake in shares of CCC Intelligent Solutions by 90.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company's stock valued at $69,000 after buying an additional 2,805 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of CCC Intelligent Solutions by 27.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,258 shares of the company's stock valued at $86,000 after acquiring an additional 1,546 shares in the last quarter. Finally, SRS Capital Advisors Inc. bought a new position in CCC Intelligent Solutions in the 4th quarter worth approximately $124,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Stock Down 0.8%

NYSE CCCS traded down $0.08 on Friday, reaching $9.34. 12,075,336 shares of the stock traded hands, compared to its average volume of 7,729,645. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 467.23 and a beta of 0.72. The company has a fifty day moving average price of $8.93 and a 200-day moving average price of $10.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm had revenue of $251.57 million during the quarter, compared to analysts' expectations of $249.87 million. During the same quarter in the prior year, the company earned $0.09 EPS. The company's revenue was up 10.7% compared to the same quarter last year. As a group, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CCCS. Barclays cut their price objective on 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. Barrington Research reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. The Goldman Sachs Group dropped their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a report on Wednesday, May 7th. Piper Sandler cut their price target on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and cut their target price for the company 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 five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.19.

Insider Activity at CCC Intelligent Solutions

In related news, insider Timothy A. Welsh bought 100,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $9.03 per share, with a total value of $903,000.00. Following the transaction, the insider now owns 168,472 shares in the company, valued at approximately $1,521,302.16. This trade represents a 146.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rodney Christo sold 5,846 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $9.15, for a total transaction of $53,490.90. The disclosure for this sale can be found here. Insiders have sold a total of 60,033,324 shares of company stock valued at $545,089,802 over the last quarter. 6.03% of the stock is owned by corporate insiders.

CCC Intelligent Solutions 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.