Massachusetts Financial Services Co. MA Sells 408,435 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Massachusetts Financial Services Co. MA reduced its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,121,502 shares of the company's stock after selling 408,435 shares during the period. Massachusetts Financial Services Co. MA owned 0.93% of CCC Intelligent Solutions worth $55,277,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC purchased a new position in shares of CCC Intelligent Solutions in the 4th quarter valued at about $31,000. Quarry LP purchased a new position in shares of CCC Intelligent Solutions during the 4th quarter worth $36,000. Valeo Financial Advisors LLC acquired a new stake in shares of CCC Intelligent Solutions during the 1st quarter worth $100,000. Curated Wealth Partners LLC boosted its position in CCC Intelligent Solutions by 42.1% in the 1st quarter. Curated Wealth Partners LLC now owns 14,268 shares of the company's stock valued at $129,000 after buying an additional 4,224 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in CCC Intelligent Solutions in the fourth quarter worth about $133,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price target on the stock. in a research note on Monday, June 23rd. Barrington Research restated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, May 7th. Barclays decreased their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Morgan Stanley decreased their price target on shares of 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 decreased their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, CCC Intelligent Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.06.

Insider Activity

In other CCC Intelligent Solutions news, Director Eric Wei sold 30,000,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $9.08, for a total transaction of $272,400,000.00. Following the completion of the transaction, the director owned 1,562,344 shares of the company's stock, valued at $14,186,083.52. The trade was a 95.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy A. Welsh acquired 100,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were bought at an average price of $9.03 per share, for a total transaction of $903,000.00. Following the acquisition, the insider owned 168,472 shares in the company, valued at approximately $1,521,302.16. This trade represents a 146.05% increase in their position. The disclosure for this purchase can be found here. Insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Stock Down 0.7%

Shares of CCC Intelligent Solutions stock traded down $0.07 during midday trading on Monday, reaching $9.69. 4,139,892 shares of the company's stock traded hands, compared to its average volume of 5,475,894. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 484.74 and a beta of 0.74. The company's 50 day simple moving average is $9.20 and its 200 day simple moving average is $9.64. 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 52 week low of $8.14 and a 52 week high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. The firm had revenue of $251.57 million during the quarter, compared to analyst estimates of $249.87 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 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. Equities analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current fiscal year.

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.