Conestoga Capital Advisors LLC Grows Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Conestoga Capital Advisors LLC lifted its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 29.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,261,035 shares of the company's stock after acquiring an additional 2,752,950 shares during the period. CCC Intelligent Solutions accounts for about 1.9% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 19th largest holding. Conestoga Capital Advisors LLC owned about 1.87% of CCC Intelligent Solutions worth $143,822,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted 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 worth $292,654,000 after acquiring an additional 1,234,281 shares in the last quarter. Wasatch Advisors LP raised its position in shares of CCC Intelligent Solutions by 49.1% in the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company's stock worth $158,358,000 after purchasing an additional 4,716,587 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in CCC Intelligent Solutions by 35.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company's stock worth $95,571,000 after purchasing an additional 2,272,336 shares in the last quarter. State Street Corp grew its position in CCC Intelligent Solutions by 32.2% during the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company's stock valued at $82,284,000 after purchasing an additional 1,815,816 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in CCC Intelligent Solutions by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,204,260 shares of the company's stock valued at $79,627,000 after purchasing an additional 1,039,690 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

CCC Intelligent Solutions Stock Performance

Shares of NYSE:CCCS traded up $0.02 during midday trading on Thursday, hitting $11.09. The company had a trading volume of 3,622,110 shares, compared to its average volume of 4,253,138. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88. The company has a fifty day moving average of $11.69 and a two-hundred day moving average of $11.21. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 554.78 and a beta of 0.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions declared that its board has authorized a stock buyback plan on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CCCS. Piper Sandler reiterated a "neutral" rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Barclays dropped their price objective 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. Barrington Research reissued an "outperform" rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Morgan Stanley raised shares of CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of "Moderate Buy" and an average target price of $13.89.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De purchased 100,000 shares of the business's stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the purchase, the director now owns 100,000 shares of the company's stock, valued at approximately $1,216,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Rodney Christo sold 9,916 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The disclosure for this sale can be found here. Insiders sold a total of 433,805 shares of company stock worth $5,283,361 over the last quarter. 6.67% of the stock is currently owned by corporate insiders.

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.