Davidson Kempner Capital Management LP bought a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS – Free Report) 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.
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.
Check Out Our Latest Stock Analysis on CCC Intelligent Solutions
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.
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