CCC Intelligent Solutions (NYSE:CCCS) Issues Quarterly Earnings Results

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

CCC Intelligent Solutions Stock Down 2.9 %

CCC Intelligent Solutions stock opened at $10.61 on Thursday. The firm has a fifty day moving average price of $10.84 and a two-hundred day moving average price of $11.02. CCC Intelligent Solutions has a fifty-two week low of $9.79 and a fifty-two week high of $12.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.79. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 530.50, a P/E/G ratio of 6.26 and a beta of 0.62.

Analyst Ratings Changes

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

Insider Transactions at CCC Intelligent Solutions

In other news, insider John Page Goodson sold 45,560 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total transaction of $459,244.80. Following the transaction, the insider now owns 87,892 shares in the company, valued at approximately $885,951.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Eileen Schloss sold 99,925 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $9.89, for a total transaction of $988,258.25. Following the transaction, the director now owns 54,047 shares in the company, valued at approximately $534,524.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Page Goodson sold 45,560 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $10.08, for a total transaction of $459,244.80. Following the transaction, the insider now 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. In the last 90 days, insiders have sold 213,323 shares of company stock worth $2,157,354. 6.67% of the stock is currently owned by company insiders.

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.