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

Royal Bank of Canada lessened its stake in shares of CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) by 12.6% in the first quarter, Holdings Channel reports. The institutional investor owned 2,462,996 shares of the company’s stock after selling 355,200 shares during the quarter. Royal Bank of Canada’s holdings in CCC Intelligent Solutions Holdings Inc. Common Stock were worth $14,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wasatch Advisors LP lifted its holdings in shares of CCC Intelligent Solutions Holdings Inc. Common Stock by 23.9% in the first quarter. Wasatch Advisors LP now owns 28,231,760 shares of the company’s stock worth $169,391,000 after buying an additional 5,440,768 shares in the last quarter. London Co. of Virginia increased its holdings in CCC Intelligent Solutions Holdings Inc. Common Stock by 52.5% during the 1st quarter. London Co. of Virginia now owns 8,741,590 shares of the company’s stock worth $52,450,000 after acquiring an additional 3,007,687 shares during the period. Alfreton Capital LLP lifted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 22.5% in the 1st quarter. Alfreton Capital LLP now owns 10,778,074 shares of the company’s stock worth $64,668,000 after purchasing an additional 1,978,074 shares in the last quarter. Van Berkom & Associates Inc. lifted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 15.5% in the 1st quarter. Van Berkom & Associates Inc. now owns 13,515,096 shares of the company’s stock worth $81,091,000 after purchasing an additional 1,814,248 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in CCC Intelligent Solutions Holdings Inc. Common Stock by 833.6% in the 1st quarter. Hsbc Holdings PLC now owns 2,030,121 shares of the company’s stock worth $12,181,000 after purchasing an additional 1,812,674 shares in the last quarter. 95.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup boosted their price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings reissued a “sell (d+)” rating on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a research note on Friday, July 31st. Jefferies Financial Group set a $7.00 target price on CCC Intelligent Solutions Holdings Inc. Common Stock in a research report on Thursday, July 30th. Wall Street Zen lowered CCC Intelligent Solutions Holdings Inc. Common Stock from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions Holdings Inc. Common Stock in a report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.12.

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

CCC opened at $6.92 on Friday. The company has a market capitalization of $4.08 billion, a PE ratio of 86.51 and a beta of 0.50. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. CCC Intelligent Solutions Holdings Inc. Common Stock has a 52 week low of $4.08 and a 52 week high of $10.14. The company has a fifty day moving average price of $5.42.

CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. CCC Intelligent Solutions Holdings Inc. Common Stock had a return on equity of 7.18% and a net margin of 3.81%.The firm had revenue of $285.93 million during the quarter. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that CCC Intelligent Solutions Holdings Inc. Common Stock will post 0.27 earnings per share for the current 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.