CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 17.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,833 shares of the company’s stock after selling 2,249 shares during the period. Hsbc Holdings PLC’s holdings in CCC Intelligent Solutions were worth $127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. purchased a new position in CCC Intelligent Solutions during the fourth quarter valued at $28,000. JPMorgan Chase & Co. lifted its stake in CCC Intelligent Solutions by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 453,911 shares of the company’s stock valued at $5,016,000 after buying an additional 85,725 shares in the last quarter. Barclays PLC boosted its holdings in CCC Intelligent Solutions by 155.7% in the 3rd quarter. Barclays PLC now owns 109,020 shares of the company’s stock worth $1,205,000 after buying an additional 66,386 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in CCC Intelligent Solutions by 29.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock worth $143,822,000 after buying an additional 2,752,950 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in CCC Intelligent Solutions by 3.0% during the 4th quarter. Wells Fargo & Company MN now owns 903,510 shares of the company’s stock worth $10,598,000 after buying an additional 26,694 shares in 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 analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Wednesday, May 7th. Barclays lowered their target price on shares of CCC Intelligent Solutions from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $11.00 in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target on shares of CCC Intelligent Solutions from $13.00 to $11.50 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Piper Sandler lowered their price target on shares of CCC Intelligent Solutions from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.19.

CCC Intelligent Solutions Stock Up 0.7%

NYSE CCCS opened at $9.00 on Monday. The business’s fifty day simple moving average is $8.97 and its 200-day simple moving average is $10.57. 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 has a market cap of $5.93 billion, a PE ratio of 450.23 and a beta of 0.76. CCC Intelligent Solutions Holdings Inc. has a 52 week low of $8.14 and a 52 week high of $12.88.

CCC Intelligent Solutions (NYSE:CCCS) last issued its earnings results on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $251.57 million for the quarter, compared to the consensus estimate of $249.87 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. will post 0.17 earnings per share for the current year.

Insider Activity

In other CCC Intelligent Solutions news, CAO Rodney Christo sold 20,077 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.20, for a total value of $204,785.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Wei sold 42,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $10.32, for a total transaction of $433,440,000.00. Following the sale, the director now owns 2,258,343 shares of the company’s stock, valued at approximately $23,306,099.76. This represents a 94.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,087,456 shares of company stock valued at $434,240,401. 6.03% of the stock is currently owned by company 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.