CCCS Institutional Stake: Summit Creek Trims Holdings

Snack-Sized Version:

Summit Creek Advisors LLC reduced its stake in CCC Intelligent Solutions by 6.5% during the third quarter. The firm sold over 132,000 shares, but it still holds a position worth about $17.5 million. However, this move contrasts with other institutional activity. For instance, several large funds like Artisan Partners and Brown Advisory significantly increased their holdings. As a result, total institutional ownership remains very high at nearly 96%. The company also recently reported Q3 results, and it met earnings estimates while growing revenue by 12%. Overall, the stock has a consensus “Hold” rating from analysts.

Read the Full Meal:

Summit Creek Advisors LLC cut its position in CCC Intelligent Solutions by 6.5% in the third quarter. The firm disclosed this change in a recent 13F filing, and it sold 132,852 shares. The sale reduced its holding to just over 1.9 million shares, which is valued at $17.5 million. However, other hedge funds made opposite moves during the same period. For example, Artisan Partners boosted its stake by 23.9%, and Brown Advisory added 9.8%. Consequently, institutional investors now own a commanding 95.79% of the company. This news comes after CCCS reported Q3 earnings of $0.09 per share, which met analyst expectations.

Summit Creek Advisors Trims CCCS Stake Amid Mixed Institutional Moves

• Institutional Selling: Summit Creek Advisors sold 132,852 shares, reducing its stake by 6.5% in the third quarter.
• Institutional Buying: Conversely, other firms like Artisan Partners and Brown Advisory increased their positions during the same period.
• Ownership Base: Institutional investors and hedge funds collectively own a significant 95.79% of the company’s stock.
• Analyst Consensus: The stock currently has a consensus ‘Hold’ rating with an average price target of $11.38.

Why this can matter for NASDAQ:CCCS holders

• Investor Sentiment: The sale by one fund contrasts with buying from others, which shows a mixed institutional view on the stock.
• High Conviction: Extremely high institutional ownership suggests that large investors still have significant conviction in the company’s future.
• Valuation Gap: The consensus price target of $11.38 implies potential upside from its current price near $8.45.

For more details, see CCCS SEC filings.

What to watch next

1. Next Earnings Report: Monitor for the company’s fourth-quarter and full-year earnings results, expected in the coming weeks.
2. Institutional Filings: Watch for the next round of 13F filings to see if institutional ownership trends continued in Q4.
3. Analyst Revisions: Look for any updates to analyst price targets following recent performance and institutional moves.

Mini FAQ

What action did Summit Creek Advisors take with CCCS stock?
Summit Creek Advisors reduced its stake in CCCS by 6.5% in the third quarter. However, the firm still owns over 1.9 million shares.

How did CCC Intelligent Solutions perform in its last quarter?
The company reported third-quarter EPS of $0.09, which met analyst estimates. In addition, its revenue grew 12% year-over-year to $267.1 million.

What is the overall institutional ownership of CCCS?
Institutional investors and hedge funds own 95.79% of the company’s stock. Furthermore, several large firms recently increased their positions, showing strong interest.

See Also

• CCC Intelligent Solutions Holdings Inc. News Hub
• Thor Industries Upgrade: Zacks Moves to Hold
• CEG Stock Decline: Constellation Energy Drops