Hsbc Holdings PLC Sells 2,010,211 Shares of CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• HSBC Holdings cut its CCC Intelligent Solutions stake by 99%, selling 2,010,211 shares and retaining 19,910 shares valued at approximately $106,000.
• Other major institutional investors increased their positions, and institutional ownership of CCC stands at 95.79%.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $9.12. CCC also exceeded quarterly EPS expectations, reporting $0.10 versus the $0.05 consensus, while revenue rose 9.8% year over year.

Hsbc Holdings PLC trimmed its stake in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 99.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,910 shares of the company's stock after selling 2,010,211 shares during the period. Hsbc Holdings PLC's holdings in CCC Intelligent Solutions Holdings Inc. Common Stock were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 3.2% during the first quarter. Principal Financial Group Inc. now owns 37,848,476 shares of the company's stock worth $227,091,000 after acquiring an additional 1,189,466 shares during the period. Wasatch Advisors LP raised its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% during the first quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company's stock valued at $169,391,000 after acquiring an additional 5,440,768 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 2.4% in the first quarter. Bank of America Corp DE now owns 14,004,344 shares of the company's stock valued at $84,026,000 after purchasing an additional 324,678 shares during the period. Van Berkom & Associates Inc. boosted its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the first quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company's stock valued at $81,091,000 after purchasing an additional 1,814,248 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,043,781 shares of the company's stock worth $66,254,000 after purchasing an additional 695,892 shares during the period. 95.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CCC shares. Stifel Nicolaus reaffirmed a "buy" rating and set a $9.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 2nd. Weiss Ratings raised CCC Intelligent Solutions Holdings Inc. Common Stock from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, September 2nd. Wall Street Zen downgraded CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Citigroup increased their target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group set a $7.00 target price on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Stock Up 4.3%

CCC Intelligent Solutions Holdings Inc. Common Stock stock opened at $6.60 on Friday. The business's fifty day moving average is $6.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 82.51 and a beta of 0.49. CCC Intelligent Solutions Holdings Inc. Common Stock has a twelve month low of $4.08 and a twelve month high of $9.83.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The business had revenue of $285.93 million for the quarter. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 7.18% and a net margin of 3.81%.The firm's revenue was up 9.8% on a year-over-year basis. Equities analysts expect that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current year.

CCC Intelligent Solutions Holdings Inc. Common Stock Profile

CCC Intelligent Solutions Holdings Inc provides cloud-based software and technology services for the property and casualty insurance economy. Its platform connects insurers, collision repair facilities, automakers, parts suppliers, lenders, and other participants involved in vehicle claims and repairs.

The company's solutions support claims management, estimating, workflow automation, digital payments, total-loss processing, vehicle valuation, and collision-repair operations. CCC also uses artificial intelligence, computer vision, predictive analytics, and data capabilities to help customers assess vehicle damage, streamline claims, improve repair processes, and enhance customer communication.

CCC traces its history to 1980 and primarily serves the North American insurance and automotive markets.

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