Hsbc Holdings PLC Boosts Stock Position in CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• HSBC Holdings PLC sharply increased its stake in CCC Intelligent Solutions during the first quarter, boosting its position by 833.6% to 2.03 million shares worth about $12.2 million.
• CCC Intelligent Solutions shares were reported down 6.1%, trading at $5.73, after moving between a 12-month low of $4.08 and high of $10.50.
• The company beat quarterly earnings expectations with EPS of $0.11 versus $0.05 expected, while revenue rose 11.8% year over year to $281.27 million; analysts currently have an average Hold rating with a $9.25 price target.

Hsbc Holdings PLC lifted its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 833.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,030,121 shares of the company's stock after buying an additional 1,812,674 shares during the period. Hsbc Holdings PLC owned about 0.35% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $12,181,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Root Financial Partners LLC grew its position in CCC Intelligent Solutions Holdings Inc. Common Stock by 2,170.1% during the first quarter. Root Financial Partners LLC now owns 4,858 shares of the company's stock valued at $29,000 after acquiring an additional 4,644 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 8.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 83,807 shares of the company's stock worth $503,000 after acquiring an additional 6,354 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at $61,000. Elevation Point Wealth Partners LLC grew its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 69.3% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 32,033 shares of the company's stock valued at $192,000 after purchasing an additional 13,112 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at $90,000. Institutional investors own 95.79% of the company's stock.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Down 6.1%

Shares of CCC Intelligent Solutions Holdings Inc. Common Stock stock opened at $5.73 on Thursday. The stock has a fifty day moving average price of $5.02. CCC Intelligent Solutions Holdings Inc. Common Stock has a 12-month low of $4.08 and a 12-month high of $10.50. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 95.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.25 and a current ratio of 1.25.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The firm had revenue of $281.27 million during the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a net margin of 3.18% and a return on equity of 6.08%. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CCC has been the subject of several recent research reports. Jefferies Financial Group reissued a "buy" rating and issued a $8.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Saturday, May 9th. Wall Street Zen upgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Citigroup lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "neutral" rating and lowered their target price for the company from $10.00 to $6.00 in a research note on Friday, April 10th. Barrington Research restated an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Friday, April 24th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $9.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.25.

CCC Intelligent Solutions Holdings Inc. Common Stock Profile

CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services.

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