ICONIQ Capital LLC Makes New $10.48 Million Investment in CCC Intelligent Solutions Holdings Inc. $CCCS

Key Points

• ICONIQ Capital LLC has acquired a stake worth approximately $10.48 million in CCC Intelligent Solutions Holdings Inc., purchasing over 1.16 million shares, making it the firm's 26th largest holding.
• In its latest quarterly earnings, CCC Intelligent Solutions reported an EPS of $0.09, surpassing analysts' expectations, along with a revenue of $260.45 million, a 12% year-over-year increase.
• Insider trading activity included a significant sale by Director Eric Wei of 30 million shares, which represents a 97.19% decrease in his ownership stake in the company.

ICONIQ Capital LLC acquired a new stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,160,847 shares of the company's stock, valued at approximately $10,482,000. CCC Intelligent Solutions accounts for about 0.2% of ICONIQ Capital LLC's investment portfolio, making the stock its 26th biggest holding. ICONIQ Capital LLC owned approximately 0.18% of CCC Intelligent Solutions at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CCCS. Teacher Retirement System of Texas raised its position in shares of CCC Intelligent Solutions by 13.6% in the 1st quarter. Teacher Retirement System of Texas now owns 184,804 shares of the company's stock worth $1,669,000 after acquiring an additional 22,185 shares in the last quarter. GAMMA Investing LLC raised its holdings in CCC Intelligent Solutions by 644.2% in the first quarter. GAMMA Investing LLC now owns 24,878 shares of the company's stock worth $225,000 after purchasing an additional 21,535 shares in the last quarter. Amalgamated Bank lifted its position in CCC Intelligent Solutions by 4.9% during the first quarter. Amalgamated Bank now owns 24,885 shares of the company's stock valued at $225,000 after buying an additional 1,163 shares during the period. KBC Group NV boosted its holdings in shares of CCC Intelligent Solutions by 26.0% during the 1st quarter. KBC Group NV now owns 20,261 shares of the company's stock valued at $183,000 after buying an additional 4,186 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of CCC Intelligent Solutions by 35.7% in the 1st quarter. Fifth Third Bancorp now owns 41,678 shares of the company's stock worth $376,000 after buying an additional 10,957 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CCC Intelligent Solutions news, Director Lauren Young sold 30,000,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on 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. The trade was a 97.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric Wei sold 30,000,000 shares of the stock in a transaction on 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 transaction, the director directly owned 866,345 shares in the company, valued at $8,550,825.15. The trade was a 97.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,005,302 shares of company stock worth $592,251,748. 6.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCCS. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from a "neutral" rating to an "underweight" rating and set a $10.00 price target for the company. in a research report on Monday, June 23rd. Piper Sandler reiterated a "hold" rating and set a $10.00 target price on shares of CCC Intelligent Solutions in a report on Thursday, August 14th. Barrington Research restated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Monday, August 4th. Barclays raised their price objective on CCC Intelligent Solutions from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group lowered their price objective on CCC Intelligent Solutions from $13.00 to $11.50 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $11.75.

CCC Intelligent Solutions Stock Performance

Shares of NYSE:CCCS traded up $0.20 during midday trading on Thursday, reaching $10.03. 5,498,436 shares of the company's stock traded hands, compared to its average volume of 7,508,493. 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 Holdings Inc. has a one year low of $8.14 and a one year high of $12.88. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 501.75 and a beta of 0.74. The stock has a 50 day moving average of $9.66 and a 200 day moving average of $9.38.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $260.45 million for the quarter, compared to analysts' expectations of $256.21 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. CCC Intelligent Solutions has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts anticipate 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.