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

MML Investors Services LLC raised its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 585.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Bay Advisors LLC bought a new stake in CCC Intelligent Solutions during the 4th quarter valued at $25,000. UMB Bank n.a. bought a new stake in CCC Intelligent Solutions during the 4th quarter valued at $28,000. TD Private Client Wealth LLC purchased a new position in CCC Intelligent Solutions during the 4th quarter worth $31,000. GAMMA Investing LLC boosted its holdings in CCC Intelligent Solutions by 286.9% during the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after acquiring an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new position in CCC Intelligent Solutions during the 4th quarter worth $54,000. Institutional investors own 95.79% of the company’s stock.

Wall Street Analysts Forecast Growth

CCCS has been the topic of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday, February 26th. Barclays cut their price objective on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Morgan Stanley cut their price objective on shares of CCC Intelligent Solutions from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.57.

CCC Intelligent Solutions Price Performance

NYSE CCCS opened at $8.99 on Tuesday. The company has a market cap of $5.92 billion, a PE ratio of 449.72 and a beta of 0.77. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88. 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 firm’s 50-day simple moving average is $9.19 and its two-hundred day simple moving average is $10.70.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, Director Eric Wei sold 42,000,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the sale, the director now directly owns 2,258,343 shares in the company, valued at $23,306,099.76. This represents a 94.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Eileen Schloss sold 27,478 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $8.60, for a total transaction of $236,310.80. Following the transaction, the director now directly owns 26,569 shares of the company’s stock, valued at approximately $228,493.40. This represents a 50.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,087,456 shares of company stock valued at $434,240,401 over the last three months. 6.03% of the stock is currently owned by insiders.

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.