Massachusetts Financial Services Co. MA Acquires 2,272,336 Shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Massachusetts Financial Services Co. MA boosted its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 35.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,648,957 shares of the company's stock after acquiring 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 reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Ghisallo Capital Management LLC bought a new position in shares of CCC Intelligent Solutions during the 2nd quarter worth approximately $132,917,000. Principal Financial Group Inc. boosted its position in CCC Intelligent Solutions by 37.8% during the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company's stock worth $280,530,000 after purchasing an additional 6,921,161 shares during the period. Van Berkom & Associates Inc. acquired a new position in shares of CCC Intelligent Solutions in the second quarter valued at $61,605,000. Vanguard Group Inc. raised its position in shares of CCC Intelligent Solutions by 17.7% in the first quarter. Vanguard Group Inc. now owns 28,034,997 shares of the company's stock valued at $335,299,000 after purchasing an additional 4,225,920 shares during the period. Finally, Dragoneer Investment Group LLC lifted its stake in shares of CCC Intelligent Solutions by 31.5% during the 2nd quarter. Dragoneer Investment Group LLC now owns 15,904,993 shares of the company's stock worth $176,704,000 after buying an additional 3,809,200 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

Analysts Set New Price Targets

CCCS has been the topic of a number of research reports. Barclays decreased their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lowered their target price on CCC Intelligent Solutions from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. Barrington Research reissued an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Jefferies Financial Group decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Finally, Morgan Stanley raised CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $14.00 to $15.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.78.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS traded up $0.13 during mid-day trading on Friday, reaching $12.47. The company had a trading volume of 3,156,728 shares, compared to its average volume of 3,267,361. The firm has a market cap of $7.80 billion, a price-to-earnings ratio of 623.50, a PEG ratio of 7.08 and a beta of 0.63. The business's 50-day simple moving average is $11.10 and its 200 day simple moving average is $11.04. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.68. 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 (NYSE:CCCS - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $238.48 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. On average, research analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $11.50, for a total transaction of $107,502.00. Following the sale, the insider now directly owns 4,798,040 shares of the company's stock, valued at approximately $55,177,460. The trade was a 0.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rodney Christo sold 75,000 shares of the company's stock in a transaction that occurred on 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 sold a total of 268,153 shares of company stock worth $3,195,485 over the last three months. Corporate insiders own 6.67% of the company's stock.

About CCC Intelligent Solutions

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.