Massachusetts Financial Services Co. MA acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS – Free Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 592,757 shares of the company’s stock, valued at approximately $7,913,000.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in CCC Intelligent Solutions by 146.9% during the first quarter. Vanguard Group Inc. now owns 9,519,514 shares of the company’s stock valued at $105,095,000 after buying an additional 5,663,827 shares during the last quarter. Brown Advisory Inc. increased its holdings in CCC Intelligent Solutions by 306.4% during the third quarter. Brown Advisory Inc. now owns 4,562,530 shares of the company’s stock valued at $60,910,000 after buying an additional 3,439,776 shares during the last quarter. Capital World Investors purchased a new stake in CCC Intelligent Solutions during the first quarter valued at approximately $23,681,000. Ghisallo Capital Management LLC purchased a new stake in CCC Intelligent Solutions during the second quarter valued at approximately $15,578,000. Finally, State Street Corp increased its stake in shares of CCC Intelligent Solutions by 398.9% in the second quarter. State Street Corp now owns 1,701,564 shares of the company’s stock worth $15,654,000 after purchasing an additional 1,360,498 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $11.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday, November 7th. Citigroup restated a “buy” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Thursday. Finally, Morgan Stanley initiated coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $13.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and an average price target of $13.00.
Insider Buying and Selling at CCC Intelligent Solutions
In other CCC Intelligent Solutions news, Director International L.P. Advent sold 22,000,000 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $10.47, for a total transaction of $230,340,000.00. Following the completion of the transaction, the director now owns 6,119,048 shares in the company, valued at $64,066,432.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.47% of the stock is owned by company insiders.
CCC Intelligent Solutions Price Performance
CCCS stock opened at $11.25 on Monday. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.33 and a 52 week high of $13.41. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $11.18 and a two-hundred day simple moving average of $11.31. The firm has a market capitalization of $6.78 billion, a P/E ratio of -56.25 and a beta of 0.60.
CCC Intelligent Solutions Profile
CCC Intelligent Solutions Holdings Inc provides cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. 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 insurance carriers, collision repairers, parts suppliers, automotive manufactures, financial institution, and others.
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