Royal Bank of Canada Lowers Stock Holdings in CCC Intelligent Solutions Holdings Inc. $CCCS

Key Points

• The Royal Bank of Canada reduced its holdings in CCC Intelligent Solutions by 1.7% in the first quarter, now owning approximately 0.26% of the company, valued at $15.49 million.
• Insider selling activity increased significantly, with key individuals selling a total of 60 million shares worth approximately $592.67 million over the last three months.
• CCC Intelligent Solutions recently reported a quarterly revenue of $260.45 million, exceeding analysts' expectations, and its stock currently has an average rating of "Hold" with a target price of $11.75.

Royal Bank of Canada decreased its holdings in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,715,993 shares of the company's stock after selling 29,218 shares during the period. Royal Bank of Canada owned approximately 0.26% of CCC Intelligent Solutions worth $15,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCCS. Amalgamated Bank lifted its stake in CCC Intelligent Solutions by 4.9% in the 1st quarter. Amalgamated Bank now owns 24,885 shares of the company's stock valued at $225,000 after buying an additional 1,163 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of CCC Intelligent Solutions by 8.8% in the fourth quarter. Quantinno Capital Management LP now owns 19,036 shares of the company's stock worth $223,000 after buying an additional 1,541 shares during the period. Stephens Inc. AR boosted its position in shares of CCC Intelligent Solutions by 7.8% in the first quarter. Stephens Inc. AR now owns 25,056 shares of the company's stock worth $226,000 after buying an additional 1,811 shares during the period. Baird Financial Group Inc. increased its position in shares of CCC Intelligent Solutions by 6.8% during the first quarter. Baird Financial Group Inc. now owns 28,822 shares of the company's stock worth $260,000 after acquiring an additional 1,833 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of CCC Intelligent Solutions by 3.8% during the first quarter. Cetera Investment Advisers now owns 50,097 shares of the company's stock worth $452,000 after acquiring an additional 1,856 shares during the last quarter. 95.79% of the stock is owned by institutional investors and hedge funds.

CCC Intelligent Solutions Stock Down 0.4%

NYSE CCCS opened at $9.60 on Thursday. The stock has a market cap of $6.25 billion, a PE ratio of 480.24 and a beta of 0.74. 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 twelve month low of $8.14 and a twelve month high of $12.88. The firm has a 50-day simple moving average of $9.74 and a 200 day simple moving average of $9.31.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The firm had revenue of $260.45 million during the quarter, compared to analysts' expectations of $256.21 million. During the same quarter last year, the company earned $0.09 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. CCC Intelligent Solutions has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts forecast that CCC Intelligent Solutions Holdings Inc. will post 0.17 EPS for the current year.

Insider Activity

In related news, insider John Page Goodson sold 42,531 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $9.79, for a total value of $416,378.49. Following the completion of the sale, the insider owned 157,478 shares of the company's stock, valued at $1,541,709.62. This trade represents a 21.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lauren Young sold 30,000,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were 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 of the company's stock, valued at approximately $8,550,825.15. This represents a 97.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,047,833 shares of company stock worth $592,668,126. 6.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

CCC Intelligent Solutions 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.

Want to see what other hedge funds are holding CCCS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.