MML Investors Services LLC Has $290,000 Stock Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

MML Investors Services LLC lowered its position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,256 shares of the company’s stock after selling 1,088 shares during the quarter. MML Investors Services LLC’s holdings in CCC Intelligent Solutions were worth $290,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its holdings in shares of CCC Intelligent Solutions by 5.8% during the third quarter. Amalgamated Bank now owns 23,722 shares of the company’s stock worth $262,000 after buying an additional 1,299 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in CCC Intelligent Solutions by 2.1% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company’s stock worth $745,000 after acquiring an additional 1,390 shares during the last quarter. Hardy Reed LLC increased its holdings in CCC Intelligent Solutions by 7.1% during the 3rd quarter. Hardy Reed LLC now owns 21,540 shares of the company’s stock valued at $238,000 after purchasing an additional 1,430 shares in the last quarter. Parkside Financial Bank & Trust raised its position in CCC Intelligent Solutions by 15.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock valued at $132,000 after purchasing an additional 1,564 shares during the last quarter. Finally, Huntington National Bank boosted its stake in CCC Intelligent Solutions by 37.6% in the third quarter. Huntington National Bank now owns 5,852 shares of the company’s stock worth $65,000 after purchasing an additional 1,599 shares in the last quarter. 95.79% of the stock is owned by institutional investors.

CCC Intelligent Solutions Price Performance

CCCS opened at $11.89 on Thursday. The company has a fifty day moving average price of $11.78 and a two-hundred day moving average price of $11.21. The firm has a market capitalization of $7.44 billion, a PE ratio of 594.80, a P/E/G ratio of 6.80 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $9.79 and a 52 week high of $12.88. 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) last released its quarterly earnings data on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%. The business had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

CCC Intelligent Solutions announced that its Board of Directors has approved a stock repurchase program on Friday, December 20th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Mary Jo Prigge sold 97,511 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $12.01, for a total value of $1,171,107.11. Following the completion of the sale, the insider now directly owns 97,268 shares in the company, valued at $1,168,188.68. This represents a 50.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Crescenzo Neil E. De purchased 100,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at $1,216,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 443,153 shares of company stock worth $5,390,863 in the last ninety days. Company insiders own 6.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CCCS shares. JPMorgan Chase & Co. raised their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Barclays reduced their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Finally, Morgan Stanley raised CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price objective 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.89.

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.