Summit Creek Advisors LLC Lowers Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Summit Creek Advisors LLC reduced its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 6.5% during the 2nd quarter, Holdings Channel reports. The fund owned 2,081,298 shares of the company’s stock after selling 144,210 shares during the period. CCC Intelligent Solutions makes up about 3.2% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Summit Creek Advisors LLC’s holdings in CCC Intelligent Solutions were worth $23,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in CCC Intelligent Solutions by 25.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,181,338 shares of the company’s stock valued at $24,845,000 after acquiring an additional 435,866 shares during the period. Trexquant Investment LP bought a new position in shares of CCC Intelligent Solutions during the fourth quarter worth approximately $2,059,000. Teca Partners LP increased its holdings in shares of CCC Intelligent Solutions by 16.7% during the fourth quarter. Teca Partners LP now owns 1,325,345 shares of the company’s stock worth $15,096,000 after purchasing an additional 189,677 shares during the period. Sei Investments Co. increased its holdings in shares of CCC Intelligent Solutions by 15.3% during the first quarter. Sei Investments Co. now owns 1,887,533 shares of the company’s stock worth $22,575,000 after purchasing an additional 250,314 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of CCC Intelligent Solutions during the first quarter worth approximately $4,086,000. 95.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CCCS shares. Jefferies Financial Group lowered their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, July 31st. Finally, Bank of America initiated coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $13.78.

Insider Buying and Selling

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 24,541 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.50, for a total transaction of $282,221.50. Following the completion of the sale, the insider now owns 6,463,840 shares of the company’s stock, valued at approximately $74,334,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total value of $311,986.50. Following the completion of the transaction, the insider now directly owns 30,172 shares of the company’s stock, valued at approximately $324,349. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Githesh Ramamurthy sold 24,541 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.50, for a total value of $282,221.50. Following the sale, the insider now owns 6,463,840 shares in the company, valued at approximately $74,334,160. The disclosure for this sale can be found here. Insiders have sold a total of 25,292,611 shares of company stock valued at $285,547,265 over the last ninety days. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock opened at $10.51 on Friday. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $13.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.79. The firm has a market capitalization of $6.53 billion, a P/E ratio of -50.05, a P/E/G ratio of 6.25 and a beta of 0.62. The company’s 50 day moving average price is $10.79 and its two-hundred day moving average price is $11.28.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $232.60 million for the quarter, compared to analyst estimates of $230.16 million. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. CCC Intelligent Solutions’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. On average, equities analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

CCC Intelligent Solutions Company 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.