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

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCCS. UMB Bank n.a. acquired a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at about $28,000. TD Private Client Wealth LLC purchased a new position in CCC Intelligent Solutions in the fourth quarter valued at approximately $31,000. Quarry LP acquired a new position in CCC Intelligent Solutions during the fourth quarter valued at approximately $36,000. Financial Management Professionals Inc. purchased a new stake in CCC Intelligent Solutions during the fourth quarter worth approximately $54,000. Finally, First Horizon Advisors Inc. increased its position in shares of CCC Intelligent Solutions by 90.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,922 shares of the company’s stock worth $69,000 after acquiring an additional 2,805 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Trading Up 1.6%

CCCS opened at $9.12 on Friday. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The stock has a market capitalization of $6.01 billion, a PE ratio of 456.23 and a beta of 0.76. The firm’s fifty day moving average price is $8.95 and its 200 day moving average price is $10.51.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on CCCS shares. Morgan Stanley reduced their target price on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. The Goldman Sachs Group decreased their target price on CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating for the company in a research report on Wednesday, May 7th. JPMorgan Chase & Co. lowered CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $11.00 in a research report on Wednesday, February 26th. Finally, Barclays decreased their price target on 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CCC Intelligent Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $12.19.

Insider Transactions at CCC Intelligent Solutions

In other news, CAO Rodney Christo sold 20,077 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $10.20, for a total transaction of $204,785.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eileen Schloss sold 27,478 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total value of $236,310.80. Following the transaction, the director now owns 26,569 shares of the company’s stock, valued at $228,493.40. This represents a 50.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,087,456 shares of company stock worth $434,240,401. 6.03% of the stock is currently owned by corporate insiders.

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.