CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. cut its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,770,652 shares of the company’s stock after selling 9,744 shares during the quarter. Thornburg Investment Management Inc. owned 0.27% of CCC Intelligent Solutions worth $20,770,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCCS. Oak Thistle LLC acquired a new stake in shares of CCC Intelligent Solutions in the 4th quarter worth $298,000. Park Avenue Securities LLC raised its holdings in CCC Intelligent Solutions by 193.0% during the fourth quarter. Park Avenue Securities LLC now owns 83,335 shares of the company’s stock worth $978,000 after purchasing an additional 54,894 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in CCC Intelligent Solutions in the 4th quarter valued at approximately $54,000. UMB Bank n.a. purchased a new stake in CCC Intelligent Solutions in the 4th quarter valued at approximately $28,000. Finally, AMI Asset Management Corp increased its position in CCC Intelligent Solutions by 2.4% during the 4th quarter. AMI Asset Management Corp now owns 92,484 shares of the company’s stock worth $1,085,000 after purchasing an additional 2,174 shares during the period. 95.79% of the stock is currently owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS opened at $9.12 on Friday. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.01 billion, a P/E ratio of 456.23 and a beta of 0.76. The firm has a 50-day moving average price of $8.95 and a two-hundred day moving average price of $10.51. CCC Intelligent Solutions Holdings Inc. has a twelve month low of $8.14 and a twelve month high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business had revenue of $251.57 million for the quarter, compared to analyst estimates of $249.87 million. During the same period in the prior year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Timothy A. Welsh acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the completion of the acquisition, the insider now directly owns 168,472 shares of the company’s stock, valued at $1,521,302.16. This trade represents a 146.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $10.32, for a total value of $433,440,000.00. Following the completion of the sale, the director now directly owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. This represents a 94.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last quarter. Insiders own 6.03% of the company’s stock.

Analysts Set New Price Targets

CCCS has been the subject of several recent analyst reports. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $11.00 in a research note on Wednesday, February 26th. Barclays cut their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group decreased their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Piper Sandler dropped their target price on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.19.

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.