Procyon Advisors LLC Reduces Stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Procyon Advisors LLC lowered its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,079 shares of the company’s stock after selling 6,421 shares during the period. Procyon Advisors LLC’s holdings in CCC Intelligent Solutions were worth $857,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Dragoneer Investment Group LLC boosted its position in shares of CCC Intelligent Solutions by 31.5% in the second quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock worth $176,704,000 after purchasing an additional 3,809,200 shares during the period. Adero Partners LLC lifted its stake in shares of CCC Intelligent Solutions by 118.5% during the 3rd quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock valued at $63,879,000 after buying an additional 3,135,650 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in CCC Intelligent Solutions by 45.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 165,040 shares of the company’s stock worth $1,824,000 after buying an additional 51,607 shares in the last quarter. Norman Fields Gottscho Capital Management LLC increased its stake in CCC Intelligent Solutions by 34.5% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 397,489 shares of the company’s stock worth $4,663,000 after buying an additional 101,885 shares in the last quarter. Finally, Barclays PLC raised its holdings in CCC Intelligent Solutions by 155.7% during the third quarter. Barclays PLC now owns 109,020 shares of the company’s stock valued at $1,205,000 after acquiring an additional 66,386 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Barrington Research reiterated an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays decreased their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Finally, Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average target price of $13.89.

CCC Intelligent Solutions Stock Up 0.8 %

NYSE:CCCS opened at $11.20 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The company’s fifty day moving average price is $11.93 and its 200-day moving average price is $11.21. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $9.79 and a 1-year high of $12.88. The firm has a market capitalization of $7.35 billion, a P/E ratio of 560.28 and a beta of 0.72.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. As a group, equities research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

CCC Intelligent Solutions announced that its Board of Directors has authorized a share buyback plan on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Githesh Ramamurthy sold 9,348 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total value of $107,502.00. Following the completion of the sale, the insider now owns 4,798,040 shares of the company’s stock, valued at $55,177,460. This represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $1,216,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 443,153 shares of company stock worth $5,390,863. Insiders own 6.67% of the company’s stock.

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.