GW&K Investment Management LLC Sells 217,115 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

GW&K Investment Management LLC trimmed its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 3.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,603,964 shares of the company's stock after selling 217,115 shares during the period. GW&K Investment Management LLC owned 1.00% of CCC Intelligent Solutions worth $59,633,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions during the 4th quarter worth approximately $31,000. Quarry LP acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter worth $36,000. Valeo Financial Advisors LLC acquired a new position in shares of CCC Intelligent Solutions in the 1st quarter worth approximately $100,000. Forum Financial Management LP acquired a new stake in CCC Intelligent Solutions in the first quarter valued at approximately $124,000. Finally, Curated Wealth Partners LLC grew its holdings in CCC Intelligent Solutions by 42.1% during the 1st quarter. Curated Wealth Partners LLC now owns 14,268 shares of the company's stock worth $129,000 after acquiring an additional 4,224 shares during the last quarter. Institutional investors own 95.79% of the company's stock.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Eric Wei sold 30,000,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the completion of the sale, the director directly owned 1,562,344 shares in the company, valued at $14,186,083.52. This trade represents a 95.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Young sold 30,000,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $9.08, for a total value of $272,400,000.00. Following the transaction, the director directly owned 1,562,344 shares of the company's stock, valued at approximately $14,186,083.52. The trade was a 95.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.03% of the stock is currently owned by company insiders.

CCC Intelligent Solutions Stock Down 0.8%

Shares of CCC Intelligent Solutions stock opened at $9.76 on Monday. The firm has a market cap of $6.43 billion, a P/E ratio of 488.24 and a beta of 0.74. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $12.88. The business has a 50-day moving average price of $9.20 and a 200 day moving average price of $9.64.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company had revenue of $251.57 million for the quarter, compared to analysts' expectations of $249.87 million. During the same period last year, the firm posted $0.09 earnings per share. The business's quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CCCS. Barrington Research reissued an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Barclays dropped their target price on CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. cut CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price target for the company. in a research report on Monday, June 23rd. Morgan Stanley decreased their price objective on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price target on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, CCC Intelligent Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.06.

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.

Want to see what other hedge funds are holding CCCS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.