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

Key Points

• Hsbc Holdings PLC significantly increased its stake in CCC Intelligent Solutions by 859.5% during the first quarter, owning 103,943 shares valued at approximately $932,000.
• Directors Eric Wei and Lauren Young sold 30 million shares each at an average price of $9.87, resulting in a 97.19% decrease in their personal holdings.
• JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from a "neutral" to an "underweight" rating, setting a target price of $10.00, while Barrington Research maintained an "outperform" rating with a $14.00 target.

Hsbc Holdings PLC raised its holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 859.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 103,943 shares of the company's stock after buying an additional 93,110 shares during the quarter. Hsbc Holdings PLC's holdings in CCC Intelligent Solutions were worth $932,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Quarry LP purchased a new position in CCC Intelligent Solutions during the fourth quarter worth approximately $36,000. Banque Cantonale Vaudoise acquired a new stake in shares of CCC Intelligent Solutions in the first quarter valued at approximately $37,000. Tocqueville Asset Management L.P. acquired a new stake in CCC Intelligent Solutions during the first quarter worth $90,000. Machina Capital S.A.S. purchased a new position in shares of CCC Intelligent Solutions during the first quarter worth $98,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of CCC Intelligent Solutions during the first quarter worth $100,000. Hedge funds and other institutional investors own 95.79% of the company's stock.

Insider Activity

In other CCC Intelligent Solutions news, Director Lauren Young sold 30,000,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $9.87, for a total transaction of $296,100,000.00. Following the completion of the sale, the director directly owned 866,345 shares in the company, valued at approximately $8,550,825.15. This trade represents a 97.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric Wei sold 30,000,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $9.87, for a total value of $296,100,000.00. Following the completion of the sale, the director owned 866,345 shares of the company's stock, valued at approximately $8,550,825.15. This represents a 97.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,005,302 shares of company stock worth $592,251,748. Insiders own 6.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCCS. Piper Sandler reaffirmed a "hold" rating and set a $10.00 price objective on shares of CCC Intelligent Solutions in a research report on Thursday, August 14th. Barrington Research reaffirmed an "outperform" rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Monday, August 4th. JPMorgan Chase & Co. downgraded CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 target price for the company. in a research note on Monday, June 23rd. Finally, Barclays raised their price target on CCC Intelligent Solutions from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, CCC Intelligent Solutions currently has a consensus rating of "Hold" and a consensus price target of $11.75.

CCC Intelligent Solutions Price Performance

Shares of CCCS stock traded up $0.15 during trading hours on Friday, hitting $9.81. The company had a trading volume of 671,443 shares, compared to its average volume of 7,394,934. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 490.85 and a beta of 0.74. CCC Intelligent Solutions Holdings Inc. has a 12 month low of $8.14 and a 12 month high of $12.88. The firm's fifty day moving average is $9.72 and its 200 day moving average is $9.34. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a return on equity of 5.35% and a net margin of 5.02%.The company had revenue of $260.45 million for the quarter, compared to the consensus estimate of $256.21 million. During the same quarter in the prior year, the business posted $0.09 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. CCC Intelligent Solutions has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts predict that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current fiscal year.

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.