Thornburg Investment Management Inc. Sells 42,967 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Thornburg Investment Management Inc. cut its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,653,567 shares of the company’s stock after selling 42,967 shares during the period. Thornburg Investment Management Inc. owned about 0.27% of CCC Intelligent Solutions worth $18,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its stake in CCC Intelligent Solutions by 128.4% during the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after purchasing an additional 1,424 shares during the last quarter. American International Group Inc. lifted its stake in shares of CCC Intelligent Solutions by 68.6% in the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares during the last quarter. CWM LLC lifted its stake in shares of CCC Intelligent Solutions by 352.6% in the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after acquiring an additional 2,419 shares during the last quarter. Twin Tree Management LP bought a new position in shares of CCC Intelligent Solutions in the 1st quarter valued at $53,000. Finally, Coldstream Capital Management Inc. acquired a new stake in CCC Intelligent Solutions in the fourth quarter valued at $119,000. 95.79% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Michael John Silva sold 29,022 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the transaction, the insider now directly owns 30,172 shares in the company, valued at approximately $324,349. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Mary Jo Prigge sold 38,816 shares of CCC Intelligent Solutions stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $10.25, for a total transaction of $397,864.00. Following the completion of the sale, the insider now directly owns 97,268 shares of the company’s stock, valued at approximately $996,997. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the sale, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. The disclosure for this sale can be found here. Insiders sold 25,292,611 shares of company stock worth $285,547,265 in the last three months. Corporate insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock opened at $10.62 on Thursday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.40. The stock has a market cap of $6.60 billion, a P/E ratio of -50.57, a P/E/G ratio of 6.03 and a beta of 0.62. The company’s 50 day moving average price is $10.74 and its two-hundred day moving average price is $11.25. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $13.41.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The business had revenue of $232.60 million during the quarter, compared to analyst estimates of $230.16 million. During the same period in the previous year, the business earned $0.02 EPS. CCC Intelligent Solutions’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CCCS shares. Jefferies Financial Group decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Bank of America started coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target for the company. Finally, Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions Company 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.