Thornburg Investment Management Inc. Cuts Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Thornburg Investment Management Inc. decreased its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 2.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,653,567 shares of the company’s stock after selling 42,967 shares during the period. Thornburg Investment Management Inc.’s holdings in CCC Intelligent Solutions were worth $18,374,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CCCS. Charles Schwab Investment Management Inc. lifted its position in CCC Intelligent Solutions by 25.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,181,338 shares of the company’s stock valued at $24,845,000 after purchasing an additional 435,866 shares during the period. Trexquant Investment LP bought a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $2,059,000. Teca Partners LP lifted its position in CCC Intelligent Solutions by 16.7% during the fourth quarter. Teca Partners LP now owns 1,325,345 shares of the company’s stock valued at $15,096,000 after purchasing an additional 189,677 shares during the period. Sei Investments Co. lifted its position in CCC Intelligent Solutions by 15.3% during the first quarter. Sei Investments Co. now owns 1,887,533 shares of the company’s stock valued at $22,575,000 after purchasing an additional 250,314 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in CCC Intelligent Solutions in the first quarter worth approximately $4,086,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Githesh Ramamurthy sold 24,541 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.50, for a total transaction of $282,221.50. Following the completion of the transaction, the insider now owns 6,463,840 shares in the company, valued at approximately $74,334,160. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 24,541 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $11.50, for a total transaction of $282,221.50. Following the transaction, the insider now owns 6,463,840 shares in the company, valued at approximately $74,334,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director International L.P. Advent sold 24,973,795 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $11.30, for a total transaction of $282,203,883.50. Following the completion of the sale, the director now owns 3,232,721 shares in the company, valued at approximately $36,529,747.30. The disclosure for this sale can be found here. Insiders sold a total of 25,292,611 shares of company stock worth $285,547,265 in the last 90 days. 6.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock opened at $10.62 on Thursday. The firm has a market capitalization of $6.60 billion, a PE ratio of -50.57, a price-to-earnings-growth ratio of 6.03 and a beta of 0.62. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $13.41. The firm has a 50-day moving average price of $10.74 and a 200-day moving average price of $11.25.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $230.16 million. During the same period in the previous year, the company earned $0.02 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year.

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.