Orion Portfolio Solutions LLC Reduces Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Orion Portfolio Solutions LLC cut its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,366 shares of the company’s stock after selling 10,806 shares during the period. Orion Portfolio Solutions LLC’s holdings in CCC Intelligent Solutions were worth $1,827,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CCCS. Principal Financial Group Inc. lifted its holdings in CCC Intelligent Solutions by 4.9% in the third quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company’s stock valued at $292,654,000 after acquiring an additional 1,234,281 shares during the period. Dragoneer Investment Group LLC increased its holdings in CCC Intelligent Solutions by 31.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company’s stock valued at $176,704,000 after acquiring an additional 3,809,200 shares in the last quarter. Wasatch Advisors LP raised its position in CCC Intelligent Solutions by 49.1% during the third quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after acquiring an additional 4,716,587 shares during the last quarter. Ghisallo Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions in the second quarter valued at approximately $132,917,000. Finally, Conestoga Capital Advisors LLC increased its stake in shares of CCC Intelligent Solutions by 18.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 9,508,085 shares of the company’s stock worth $105,064,000 after purchasing an additional 1,498,200 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CCCS. JPMorgan Chase & Co. raised their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays cut 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. Piper Sandler restated a “neutral” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Finally, Bank of America started coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, CCC Intelligent Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.89.

CCC Intelligent Solutions Stock Down 0.8 %

Shares of NYSE:CCCS opened at $12.24 on Friday. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The company has a market cap of $7.66 billion, a PE ratio of 612.00, a price-to-earnings-growth ratio of 6.98 and a beta of 0.70. The firm has a 50 day simple moving average of $11.57 and a 200 day simple moving average of $11.18.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share 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 the consensus estimate of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. As a group, research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Insider Transactions at CCC Intelligent Solutions

In related news, insider Mary Jo Prigge sold 2,489 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,167,216. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total transaction of $107,502.00. Following the completion of the sale, the insider now directly owns 4,798,040 shares in the company, valued at $55,177,460. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 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.