Massachusetts Financial Services Co. MA Lowers Position in CCC Intelligent Solutions Holdings Inc. $CCCS

Massachusetts Financial Services Co. MA reduced its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 28.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,275,222 shares of the company’s stock after selling 1,739,192 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.66% of CCC Intelligent Solutions worth $38,947,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CCCS. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CCC Intelligent Solutions during the 2nd quarter worth approximately $25,000. Osaic Holdings Inc. boosted its stake in shares of CCC Intelligent Solutions by 293.7% in the second quarter. Osaic Holdings Inc. now owns 3,083 shares of the company’s stock valued at $29,000 after buying an additional 2,300 shares in the last quarter. Park Place Capital Corp grew its holdings in CCC Intelligent Solutions by 47.6% during the second quarter. Park Place Capital Corp now owns 3,806 shares of the company’s stock worth $36,000 after acquiring an additional 1,228 shares during the period. First Horizon Advisors Inc. grew its holdings in CCC Intelligent Solutions by 134.8% during the second quarter. First Horizon Advisors Inc. now owns 6,409 shares of the company’s stock worth $60,000 after acquiring an additional 3,679 shares during the period. Finally, Advisors Asset Management Inc. raised its position in CCC Intelligent Solutions by 40.4% in the first quarter. Advisors Asset Management Inc. now owns 6,599 shares of the company’s stock worth $60,000 after acquiring an additional 1,898 shares in the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

CCC Intelligent Solutions Price Performance

NYSE:CCCS opened at $7.84 on Thursday. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $8.14 and a 12-month high of $12.88. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 392.20 and a beta of 0.72. The company’s 50-day moving average is $7.72 and its two-hundred day moving average is $8.81. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%.The company had revenue of $267.12 million for the quarter, compared to analyst estimates of $265.01 million. During the same quarter in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler decreased their target price on shares of CCC Intelligent Solutions from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Barclays decreased their price objective on shares of CCC Intelligent Solutions from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a report on Monday, October 27th. Stifel Nicolaus reduced their price target on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Jefferies Financial Group set a $11.00 price target on CCC Intelligent Solutions in a report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.38.

CCC Intelligent Solutions Profile

CCC Intelligent Solutions Inc (NYSE: CCCS) is a leading provider of digital solutions and data analytics to the property and casualty insurance, automotive repair, and connected vehicle markets. The company’s core offerings are designed to improve the efficiency, accuracy, and transparency of collision repair and claims processes. By leveraging advanced machine learning, computer vision, and telematics, CCC enables insurers, repair shops, and vehicle owners to streamline workflows, enhance decision-making, and reduce cycle times.

The company’s flagship platform, CCC ONE®, integrates estimating, repair management, parts sourcing, supplier collaboration, and digital transaction workflows into a single, cloud-based environment.