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

Telemark Asset Management LLC reduced its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & 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 comprises about 1.6% of Telemark Asset Management LLC's investment portfolio, making the stock its 17th largest holding. Telemark Asset Management LLC owned 0.23% of CCC Intelligent Solutions worth $16,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its position in shares of CCC Intelligent Solutions by 153.0% in the third quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company's stock worth $32,000 after purchasing an additional 1,729 shares in the last quarter. American International Group Inc. lifted its position in shares of CCC Intelligent Solutions by 68.6% during 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 last quarter. CWM LLC boosted its position in shares of CCC Intelligent Solutions by 352.6% in the second 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 boosted its holdings in CCC Intelligent Solutions by 37.6% in the 3rd quarter. Huntington National Bank now owns 5,852 shares of the company's stock valued at $65,000 after purchasing an additional 1,599 shares during the period. Finally, KBC Group NV grew its position in CCC Intelligent Solutions by 81.7% during the third quarter. KBC Group NV now owns 10,314 shares of the company's stock worth $114,000 after buying an additional 4,637 shares in the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, insider Mary Jo Prigge sold 2,489 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 97,268 shares of the company's stock, valued at $1,167,216. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Githesh Ramamurthy sold 9,348 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total transaction of $107,502.00. Following the completion of the transaction, the insider now directly owns 4,798,040 shares in the company, valued at $55,177,460. The trade was a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,642 shares of company stock valued at $1,123,628 in the last quarter. 6.67% of the stock is currently owned by corporate insiders.

CCC Intelligent Solutions Trading Up 1.1 %

Shares of CCC Intelligent Solutions stock traded up $0.13 on Friday, hitting $12.47. 3,156,728 shares of the company's stock traded hands, compared to its average volume of 3,427,704. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 617.31, a price-to-earnings-growth ratio of 6.76 and a beta of 0.63. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.68. The company has a fifty day moving average of $11.07 and a two-hundred day moving average of $11.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $237.41 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

CCCS has been the subject of several recent research reports. Barrington Research reissued an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Jefferies Financial Group dropped their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced 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 note on Tuesday, October 29th. Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Finally, Barclays decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average 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.