Massachusetts Financial Services Co. MA Grows Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Massachusetts Financial Services Co. MA increased its stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 35.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,648,957 shares of the company’s stock after purchasing an additional 2,272,336 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.38% of CCC Intelligent Solutions worth $95,571,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CCCS. American International Group Inc. grew its holdings in shares of CCC Intelligent Solutions by 68.6% in the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after acquiring an additional 1,135 shares during the period. Amalgamated Bank increased its position in shares of CCC Intelligent Solutions by 5.8% during the 3rd quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock valued at $262,000 after purchasing an additional 1,299 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in shares of CCC Intelligent Solutions by 2.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock worth $745,000 after purchasing an additional 1,390 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of CCC Intelligent Solutions by 15.2% in the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after buying an additional 1,564 shares during the last quarter. Finally, Huntington National Bank grew its position in CCC Intelligent Solutions by 37.6% during the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock valued at $65,000 after buying an additional 1,599 shares during the period. Institutional investors own 95.79% of the company’s stock.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 2,489 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.00, for a total transaction of $29,868.00. Following the transaction, the insider now owns 97,268 shares in the company, valued at $1,167,216. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rodney Christo sold 75,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $11.80, for a total transaction of $885,000.00. The disclosure for this sale can be found here. Insiders have sold 268,153 shares of company stock valued at $3,195,485 over the last ninety days. 6.67% of the stock is owned by insiders.

CCC Intelligent Solutions Trading Up 1.1 %

CCCS stock opened at $12.47 on Friday. The firm has a market cap of $7.80 billion, a PE ratio of 623.81, a price-to-earnings-growth ratio of 7.08 and a beta of 0.63. The firm has a fifty day moving average price of $11.10 and a 200 day moving average price of $11.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $12.68.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. Sell-side analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

CCCS has been the subject of a number of recent research reports. Barclays cut their price objective on shares of 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. JPMorgan Chase & Co. decreased 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 report on Tuesday, October 29th. Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Bank of America initiated coverage on CCC Intelligent Solutions in a research report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Barrington Research reiterated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average price target 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.