MML Investors Services LLC Purchases 153,806 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

MML Investors Services LLC grew its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 585.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 180,062 shares of the company's stock after purchasing an additional 153,806 shares during the quarter. MML Investors Services LLC's holdings in CCC Intelligent Solutions were worth $2,112,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in shares of CCC Intelligent Solutions by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 26,484,511 shares of the company's stock worth $292,654,000 after purchasing an additional 1,234,281 shares during the period. Barclays PLC raised its holdings in CCC Intelligent Solutions by 155.7% in the 3rd quarter. Barclays PLC now owns 109,020 shares of the company's stock valued at $1,205,000 after acquiring an additional 66,386 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of CCC Intelligent Solutions in the 3rd quarter worth approximately $136,000. Tidal Investments LLC acquired a new stake in shares of CCC Intelligent Solutions during the 3rd quarter worth approximately $117,000. Finally, Synovus Financial Corp increased its position in shares of CCC Intelligent Solutions by 1.6% during the third quarter. Synovus Financial Corp now owns 228,404 shares of the company's stock valued at $2,524,000 after purchasing an additional 3,627 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Eric Wei sold 42,000,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the transaction, the director now owns 2,258,343 shares in the company, valued at $23,306,099.76. This represents a 94.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rodney Christo sold 20,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,087,456 shares of company stock worth $434,240,401. Insiders own 6.03% of the company's stock.

CCC Intelligent Solutions Price Performance

NYSE:CCCS traded up $0.08 on Friday, reaching $9.26. The stock had a trading volume of 4,302,253 shares, compared to its average volume of 4,707,074. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.10 billion, a P/E ratio of 463.23 and a beta of 0.77. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $8.14 and a 1-year high of $12.88. The stock has a fifty day moving average price of $9.10 and a 200-day moving average price of $10.65.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley reduced their target price on CCC Intelligent Solutions from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barclays lowered their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Piper Sandler restated a "neutral" rating and set a $11.00 price target (down previously from $13.00) on shares of CCC Intelligent Solutions in a research note on Wednesday, February 26th. Finally, Barrington Research reiterated an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CCC Intelligent Solutions presently has an average rating of "Moderate Buy" and an average target price of $12.57.

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.