Cannon Global Investment Management LLC Purchases Shares of 51,000 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Cannon Global Investment Management LLC bought a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 51,000 shares of the company’s stock, valued at approximately $564,000. CCC Intelligent Solutions makes up about 0.9% of Cannon Global Investment Management LLC’s holdings, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of CCC Intelligent Solutions by 67.2% during the third quarter. Harbor Capital Advisors Inc. now owns 340,397 shares of the company’s stock worth $3,761,000 after buying an additional 136,854 shares in the last quarter. Janney Capital Management LLC bought a new position in shares of CCC Intelligent Solutions in the third quarter worth $321,000. Chicago Partners Investment Group LLC increased its position in shares of CCC Intelligent Solutions by 15.5% in the third quarter. Chicago Partners Investment Group LLC now owns 14,596 shares of the company’s stock worth $162,000 after purchasing an additional 1,957 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of CCC Intelligent Solutions by 18.7% in the third 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 during the period. Finally, New York State Common Retirement Fund increased its position in shares of CCC Intelligent Solutions by 1.6% in the third quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company’s stock worth $26,201,000 after purchasing an additional 36,867 shares during the period. Institutional investors and hedge funds own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCCS. Bank of America began coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price target on the stock. 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. JPMorgan Chase & Co. lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Jefferies Financial Group lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Barrington Research reissued an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.56.

Insider Activity

In related news, insider John Page Goodson sold 45,560 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $10.08, for a total value of $459,244.80. Following the sale, the insider now directly owns 87,892 shares in the company, valued at $885,951.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Eileen Schloss sold 99,925 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.89, for a total value of $988,258.25. Following the sale, the director now directly owns 54,047 shares in the company, valued at $534,524.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Page Goodson sold 45,560 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total value of $459,244.80. Following the completion of the sale, the insider now owns 87,892 shares in the company, valued at $885,951.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 213,323 shares of company stock valued at $2,157,354 over the last quarter. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Trading Up 0.6 %

Shares of CCC Intelligent Solutions stock traded up $0.06 on Friday, hitting $10.47. The stock had a trading volume of 2,376,165 shares, compared to its average volume of 2,745,139. The stock has a 50 day moving average of $10.83 and a 200 day moving average of $11.00. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $9.79 and a twelve month high of $12.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.79 and a current ratio of 3.19. The firm has a market capitalization of $6.55 billion, a P/E ratio of 523.50, a PEG ratio of 5.97 and a beta of 0.63.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The company had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts expect 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.