Telemark Asset Management LLC Sells 50,000 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Telemark Asset Management LLC trimmed its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,450,000 shares of the company’s stock after selling 50,000 shares during the quarter. CCC Intelligent Solutions accounts for about 1.6% of Telemark Asset Management LLC’s portfolio, making the stock its 17th largest position. Telemark Asset Management LLC owned 0.23% of CCC Intelligent Solutions worth $16,022,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CCCS. American International Group Inc. lifted its position 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 worth $33,000 after purchasing an additional 1,135 shares during the period. Advisors Asset Management Inc. lifted its position in shares of CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock valued at $32,000 after acquiring an additional 1,729 shares during the period. CWM LLC lifted its position in shares of CCC Intelligent Solutions by 352.6% during 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 period. Huntington National Bank lifted its position in shares of CCC Intelligent Solutions by 37.6% during the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after acquiring an additional 1,599 shares during the period. Finally, KBC Group NV lifted its position in shares of CCC Intelligent Solutions by 81.7% during the 3rd quarter. KBC Group NV now owns 10,314 shares of the company’s stock valued at $114,000 after acquiring an additional 4,637 shares during the period. 95.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CCCS shares. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Barrington Research restated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Bank of America started coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group decreased their price target 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $13.78.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 75,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $11.80, for a total transaction of $885,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $11.50, for a total transaction of $107,502.00. Following the sale, the insider now directly owns 4,798,040 shares in the company, valued at approximately $55,177,460. This trade represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,642 shares of company stock worth $1,123,628. 6.67% of the stock is owned by company insiders.

CCC Intelligent Solutions Stock Performance

NYSE CCCS opened at $12.34 on Friday. CCC Intelligent Solutions Holdings Inc. has a 1 year low of $9.79 and a 1 year high of $12.68. 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 firm has a market cap of $7.72 billion, a price-to-earnings ratio of 617.31, a PEG ratio of 6.76 and a beta of 0.63. The company has a fifty day moving average price of $11.07 and a 200-day moving average price of $11.03.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to analyst estimates of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, equities research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

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.