Royal Bank of Canada Sells 355,200 Shares of CCC Intelligent Solutions Holdings Inc. Common Stock $CCC

Key Points

• Royal Bank of Canada reduced its CCC Intelligent Solutions stake by 12.6% in the first quarter, selling 355,200 shares and retaining 2.46 million shares valued at approximately $14.8 million. Institutional investors collectively own 95.79% of the company.
• Analyst sentiment is mixed, with ratings ranging from buy to sell. The stock has a consensus rating of “Hold” and an average price target of $9.12.
• CCC reported quarterly EPS of $0.10, beating estimates of $0.05, while revenue rose 9.8% year over year to $285.93 million. Shares opened at $6.92, up 6.5%, with a market capitalization of about $4.08 billion.

Royal Bank of Canada lessened its position in CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC - Free Report) by 12.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,462,996 shares of the company's stock after selling 355,200 shares during the period. Royal Bank of Canada owned approximately 0.42% of CCC Intelligent Solutions Holdings Inc. Common Stock worth $14,777,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC raised its position in shares of 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 worth $29,000 after purchasing an additional 4,644 shares during the period. Essex Financial Services Inc. acquired a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at $61,000. Kera Capital Partners Inc. acquired a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock in the 1st quarter valued at $62,000. Citizens Financial Group Inc. RI bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at $65,000. Finally, Meeder Advisory Services Inc. bought a new stake in CCC Intelligent Solutions Holdings Inc. Common Stock during the 1st quarter valued at $87,000. Institutional investors own 95.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a "buy" rating and issued a $9.00 price objective on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Thursday, July 2nd. Wall Street Zen lowered shares of CCC Intelligent Solutions Holdings Inc. Common Stock from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Jefferies Financial Group set a $7.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 30th. Barrington Research reiterated an "outperform" rating and set a $14.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, April 24th. Finally, Citigroup boosted their price objective on 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. 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $9.12.

CCC Intelligent Solutions Holdings Inc. Common Stock Trading Up 6.5%

CCC stock opened at $6.92 on Friday. The stock has a market capitalization of $4.08 billion, a PE ratio of 86.51 and a beta of 0.50. 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 fifty day simple moving average of $5.42. CCC Intelligent Solutions Holdings Inc. Common Stock has a 1-year low of $4.08 and a 1-year high of $10.14.

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

About CCC Intelligent Solutions Holdings Inc. Common Stock

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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