CCC Intelligent Solutions Holdings Inc. Common Stock $CCC Shares Purchased by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management increased its CCC stake by 240.5% in the second quarter, purchasing 1.08 million additional shares for a total holding of 1.52 million shares worth approximately $7.9 million.
• Institutional ownership remains high at 95.79%, with several other funds adding new or expanded positions during the quarter.
• Analyst sentiment is mixed, with ratings ranging from buy to sell; CCC has a consensus rating of “Hold” and an average price target of $9.12. The company recently beat quarterly EPS estimates, reporting $0.10 versus the expected $0.05, while revenue rose 9.8% year over year.

Thornburg Investment Management Inc. increased its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 240.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,524,462 shares of the company's stock after buying an additional 1,076,718 shares during the quarter. Thornburg Investment Management Inc. owned about 0.26% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $7,866,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 1.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,362,103 shares of the company's stock worth $7,028,000 after acquiring an additional 21,017 shares during the last quarter. Wellington Management Group LLP purchased a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the 2nd quarter valued at $17,869,000. Central Pacific Bank Trust Division boosted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 94.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 45,480 shares of the company's stock worth $235,000 after purchasing an additional 22,070 shares during the period. Pacer Advisors Inc. acquired a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter worth $10,836,000. Finally, Empowered Funds LLC grew its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 18.8% during the 1st quarter. Empowered Funds LLC now owns 22,519 shares of the company's stock worth $135,000 after purchasing an additional 3,556 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CCC shares. Citigroup upped their target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a "neutral" rating in a report on Monday, August 3rd. Weiss Ratings restated a "sell (d+)" rating on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday, July 31st. Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Stifel Nicolaus reaffirmed a "buy" rating and set a $9.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 2nd. Finally, Jefferies Financial Group set a $7.00 target price on CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Performance

Shares of NASDAQ CCC opened at $7.49 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. CCC Intelligent Solutions Holdings Inc. Common Stock has a one year low of $4.08 and a one year high of $10.14. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 93.64 and a beta of 0.50. The stock's fifty day moving average is $6.18.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The firm had revenue of $285.93 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.81% and a return on equity of 7.18%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current fiscal year.

CCC Intelligent Solutions Holdings Inc. Common Stock Profile

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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