CCC Intelligent Solutions (NYSE:CCCS) Announces Earnings Results

CCC Intelligent Solutions (NYSE:CCCS) issued its earnings results on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01, Briefing.com reports. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The firm had revenue of $238.48 million for the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter last year, the company posted $0.03 earnings per share. CCC Intelligent Solutions’s revenue was up 7.8% on a year-over-year basis. CCC Intelligent Solutions updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

CCC Intelligent Solutions Price Performance

Shares of NYSE:CCCS opened at $10.61 on Thursday. CCC Intelligent Solutions has a 12 month low of $9.79 and a 12 month high of $12.68. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 530.50, a PEG ratio of 6.26 and a beta of 0.62. The stock’s 50 day moving average price is $10.84 and its 200 day moving average price is $11.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.79.

Insider Buying and Selling

In related news, insider John Page Goodson sold 45,560 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $10.08, for a total transaction of $459,244.80. Following the sale, the insider now owns 87,892 shares of the company’s stock, valued at $885,951.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Eileen Schloss sold 99,925 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.89, for a total transaction of $988,258.25. Following the sale, the director now owns 54,047 shares of the company’s stock, valued at $534,524.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Page Goodson sold 45,560 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $10.08, for a total value of $459,244.80. Following the sale, the insider now directly owns 87,892 shares in the company, valued at approximately $885,951.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,323 shares of company stock valued at $2,157,354 over the last quarter. Corporate insiders own 6.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday. Jefferies Financial Group cut their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Barclays cut their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday. Finally, Bank of America assumed coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $13.56.

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.