Cannon Global Investment Management LLC Takes Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Cannon Global Investment Management LLC purchased a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,000 shares of the company's stock, valued at approximately $564,000. CCC Intelligent Solutions accounts for about 0.9% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American International Group Inc. increased its stake in shares of CCC Intelligent Solutions by 68.6% during the first quarter. American International Group Inc. now owns 2,789 shares of the company's stock worth $33,000 after buying an additional 1,135 shares during the period. CWM LLC increased its stake in shares of CCC Intelligent Solutions by 352.6% during the second quarter. CWM LLC now owns 3,105 shares of the company's stock worth $34,000 after buying an additional 2,419 shares during the period. Twin Tree Management LP purchased a new stake in shares of CCC Intelligent Solutions during the first quarter worth approximately $53,000. Quarry LP increased its stake in CCC Intelligent Solutions by 304.0% in the second quarter. Quarry LP now owns 11,219 shares of the company's stock valued at $125,000 after purchasing an additional 8,442 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in CCC Intelligent Solutions by 15.2% in the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company's stock valued at $132,000 after purchasing an additional 1,564 shares during the last quarter. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCCS. Barclays dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. 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 target price on the stock. Barrington Research reiterated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group lowered their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $13.56.

Insiders Place Their Bets

In other news, insider John Page Goodson sold 45,560 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total transaction of $459,244.80. Following the transaction, the insider now directly owns 87,892 shares of the company's stock, valued at $885,951.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider John Page Goodson sold 45,560 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total transaction of $459,244.80. Following the transaction, the insider now directly owns 87,892 shares of the company's stock, valued at $885,951.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eileen Schloss sold 99,925 shares of the company's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $9.89, for a total transaction of $988,258.25. Following the transaction, the director now directly owns 54,047 shares in the company, valued at approximately $534,524.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,323 shares of company stock worth $2,157,354. Corporate insiders own 6.67% of the company's stock.

CCC Intelligent Solutions Stock Performance

Shares of CCC Intelligent Solutions stock traded up $0.06 on Friday, reaching $10.47. 2,376,165 shares of the stock were exchanged, compared to its average volume of 2,745,139. The firm has a market capitalization of $6.55 billion, a PE ratio of 523.50, a PEG ratio of 5.97 and a beta of 0.63. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $9.79 and a 1-year high of $12.68. The business has a fifty day moving average price of $10.83 and a two-hundred day moving average price of $11.00. The company has a current ratio of 3.19, a quick ratio of 2.79 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $237.41 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

CCC Intelligent Solutions 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.