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

Conestoga Capital Advisors LLC lifted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,261,035 shares of the company’s stock after buying an additional 2,752,950 shares during the period. CCC Intelligent Solutions makes up about 1.9% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 19th largest position. Conestoga Capital Advisors LLC’s holdings in CCC Intelligent Solutions were worth $143,822,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CCCS. Eagle Bay Advisors LLC acquired a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at $25,000. UMB Bank n.a. acquired a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at about $28,000. Advisors Asset Management Inc. raised its stake in shares of CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares during the last quarter. GAMMA Investing LLC boosted its position in CCC Intelligent Solutions by 286.9% in the fourth quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock valued at $39,000 after buying an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. acquired a new position in CCC Intelligent Solutions in the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insider Activity

In related news, CAO Rodney Christo sold 75,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.80, for a total value of $885,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mary Jo Prigge sold 2,489 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total transaction of $29,868.00. Following the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at approximately $1,167,216. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock valued at $5,390,863 in the last 90 days. Company insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Stock Down 0.6 %

NYSE CCCS opened at $11.11 on Monday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88. The business’s fifty day simple moving average is $11.82 and its 200-day simple moving average is $11.22. The firm has a market cap of $7.29 billion, a PE ratio of 74.07 and a beta of 0.71.

CCC Intelligent Solutions announced that its board has initiated a stock buyback plan on Friday, December 20th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Piper Sandler restated a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Wednesday, December 11th. Finally, Barclays decreased their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Two investment 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 a consensus rating of “Moderate Buy” and an average price target of $13.89.

About CCC Intelligent Solutions

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.