Telemark Asset Management LLC Lowers Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Telemark Asset Management LLC trimmed its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,450,000 shares of the company’s stock after selling 50,000 shares during the quarter. CCC Intelligent Solutions makes up approximately 1.6% of Telemark Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Telemark Asset Management LLC’s holdings in CCC Intelligent Solutions were worth $16,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCCS. Ghisallo Capital Management LLC purchased a new stake in shares of CCC Intelligent Solutions in the second quarter worth about $132,917,000. Principal Financial Group Inc. lifted its position in CCC Intelligent Solutions by 37.8% during the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock valued at $280,530,000 after purchasing an additional 6,921,161 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in CCC Intelligent Solutions in the 2nd quarter worth approximately $70,844,000. Van Berkom & Associates Inc. bought a new position in shares of CCC Intelligent Solutions in the 2nd quarter worth $61,605,000. Finally, Vanguard Group Inc. raised its position in shares of CCC Intelligent Solutions by 17.7% during the 1st quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company’s stock valued at $335,299,000 after buying an additional 4,225,920 shares in the last quarter. 95.79% of the stock is owned by hedge funds and other institutional investors.

CCC Intelligent Solutions Price Performance

Shares of CCC Intelligent Solutions stock opened at $12.34 on Friday. CCC Intelligent Solutions Holdings Inc. has a 52-week low of $9.79 and a 52-week high of $12.68. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 617.31, a price-to-earnings-growth ratio of 6.76 and a beta of 0.63. The company has a fifty day moving average of $11.07 and a 200-day moving average of $11.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19.

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

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 2,489 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total value of $29,868.00. Following the completion of the transaction, the insider now directly owns 97,268 shares in the company, valued at approximately $1,167,216. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rodney Christo sold 75,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. Insiders sold 95,642 shares of company stock worth $1,123,628 in the last three months. 6.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on CCCS shares. JPMorgan Chase & Co. lowered their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Bank of America started coverage on 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. Jefferies Financial Group reduced their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Finally, Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

CCC Intelligent Solutions 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.