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

Procyon Advisors LLC reduced its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 institutional investors and hedge funds have also recently modified their holdings of CCCS. Victory Capital Management Inc. lifted its stake in CCC Intelligent Solutions by 70.4% during the second quarter. Victory Capital Management Inc. now owns 50,094 shares of the company’s stock worth $557,000 after purchasing an additional 20,695 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of CCC Intelligent Solutions by 19.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,792,309 shares of the company’s stock worth $19,913,000 after buying an additional 287,270 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CCC Intelligent Solutions by 65.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,632,968 shares of the company’s stock valued at $51,482,000 after buying an additional 1,831,135 shares in the last quarter. Amalgamated Bank grew its position in shares of CCC Intelligent Solutions by 25.8% in the 2nd quarter. Amalgamated Bank now owns 22,423 shares of the company’s stock valued at $249,000 after buying an additional 4,596 shares during the last quarter. Finally, Blair William & Co. IL acquired a new stake in CCC Intelligent Solutions during the 2nd quarter worth $1,112,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Trading Up 0.8 %

NYSE CCCS opened at $11.20 on Friday. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 560.28 and a beta of 0.72. 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 Holdings Inc. has a one year low of $9.79 and a one year high of $12.88. The company’s 50 day moving average price is $11.93 and its 200 day moving average price is $11.21.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, sell-side analysts predict 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 approved a stock repurchase 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 typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $14.00 to $15.00 in a research report 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 research report on Monday, December 9th. Barclays lowered their price objective on shares of 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. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.89.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 9,916 shares of CCC Intelligent Solutions stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Githesh Ramamurthy sold 9,348 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $11.50, for a total transaction of $107,502.00. Following the sale, the insider now directly owns 4,798,040 shares of the company’s stock, valued at approximately $55,177,460. This represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 443,153 shares of company stock valued at $5,390,863. Insiders own 6.67% of the company’s stock.

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.