Davidson Kempner Capital Management LP Acquires Shares of 400,000 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Davidson Kempner Capital Management LP bought a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 400,000 shares of the company’s stock, valued at approximately $4,432,000. Davidson Kempner Capital Management LP owned about 0.06% of CCC Intelligent Solutions as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of CCC Intelligent Solutions by 144,359.9% in the 1st quarter. Principal Financial Group Inc. now owns 18,329,069 shares of the company’s stock worth $219,216,000 after acquiring an additional 18,316,381 shares during the period. Akre Capital Management LLC acquired a new stake in CCC Intelligent Solutions in the first quarter valued at about $83,720,000. Massachusetts Financial Services Co. MA purchased a new stake in CCC Intelligent Solutions in the 2nd quarter valued at approximately $70,844,000. Vanguard Group Inc. increased its position in CCC Intelligent Solutions by 34.0% during the 4th quarter. Vanguard Group Inc. now owns 23,809,077 shares of the company’s stock worth $271,185,000 after purchasing an additional 6,043,282 shares during the period. Finally, Van Berkom & Associates Inc. purchased a new position in shares of CCC Intelligent Solutions during the 2nd quarter worth approximately $61,605,000. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Stock Performance

Shares of CCCS opened at $10.98 on Monday. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $13.41. The stock has a market cap of $6.83 billion, a P/E ratio of -52.29, a PEG ratio of 6.16 and a beta of 0.62. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $10.71 and a two-hundred day moving average of $11.21.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The business had revenue of $232.60 million during the quarter, compared to analysts’ expectations of $230.16 million. During the same period last year, the company posted $0.02 EPS. The company’s revenue was up 9.9% on a year-over-year basis. As a group, research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current fiscal year.

Insider Transactions at CCC Intelligent Solutions

In related news, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the sale, the insider now owns 30,172 shares in the company, valued at approximately $324,349. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Michael John Silva sold 29,022 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total transaction of $311,986.50. Following the transaction, the insider now owns 30,172 shares of the company’s stock, valued at $324,349. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director International L.P. Advent sold 24,973,795 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $11.30, for a total transaction of $282,203,883.50. Following the completion of the sale, the director now directly owns 3,232,721 shares of the company’s stock, valued at $36,529,747.30. The disclosure for this sale can be found here. Insiders sold a total of 25,292,611 shares of company stock valued at $285,547,265 over the last three months. 6.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CCCS has been the topic of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, July 31st. 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 on the stock. Finally, Jefferies Financial Group reduced their price objective 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average target price of $13.75.

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.