Conestoga Capital Advisors LLC Decreases Stock Position in CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Conestoga Capital Advisors LLC cut its stake in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) by 58.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,240,492 shares of the company’s stock after selling 7,290,405 shares during the period. Conestoga Capital Advisors LLC’s holdings in CCC Intelligent Solutions Holdings Inc. Common Stock were worth $31,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCC. SG Americas Securities LLC purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth about $3,254,000. OP Asset Management Ltd purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at about $816,000. Wasatch Advisors LP boosted its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% in the 1st quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company’s stock valued at $169,391,000 after buying an additional 5,440,768 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter worth about $308,000. Finally, MQS Management LLC acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the first quarter worth about $90,000. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

Shares of NASDAQ CCC opened at $5.38 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. CCC Intelligent Solutions Holdings Inc. Common Stock has a fifty-two week low of $4.08 and a fifty-two week high of $10.50. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 89.68 and a beta of 0.51. The stock’s 50-day simple moving average is $4.76.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The firm had revenue of $281.27 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 6.08% and a net margin of 3.18%.The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on CCC. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Friday, April 24th. Jefferies Financial Group reiterated a “buy” rating and set a $8.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Saturday, May 9th. Wall Street Zen raised shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Citigroup lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $6.00 in a report on Friday, April 10th. Finally, Weiss Ratings raised shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.33.

About CCC Intelligent Solutions Holdings Inc. Common Stock

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company’s SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.