Q3 2024 EPS Estimates for CCC Intelligent Solutions Holdings Inc. Decreased by Analyst (NYSE:CCCS)

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) – William Blair cut their Q3 2024 earnings estimates for CCC Intelligent Solutions in a research report issued on Wednesday, May 1st. William Blair analyst D. Becker now forecasts that the company will post earnings of $0.04 per share for the quarter, down from their prior forecast of $0.05. The consensus estimate for CCC Intelligent Solutions’ current full-year earnings is $0.18 per share.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $228.60 million for the quarter, compared to the consensus estimate of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.52%.

CCCS has been the subject of a number of other research reports. Evercore ISI upped their target price on CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Barclays boosted their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday. Piper Sandler boosted their price objective on CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Citigroup reaffirmed a “buy” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CCC Intelligent Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $13.63.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS opened at $10.81 on Friday. The business’s 50-day simple moving average is $11.72 and its 200-day simple moving average is $11.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.29 and a current ratio of 2.53. CCC Intelligent Solutions has a 52 week low of $8.74 and a 52 week high of $13.41. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of -51.48 and a beta of 0.63.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of CCC Intelligent Solutions by 6.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,225,063 shares of the company’s stock valued at $25,343,000 after acquiring an additional 127,738 shares during the period. Riverbridge Partners LLC boosted its position in CCC Intelligent Solutions by 41.6% in the fourth quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock valued at $77,865,000 after buying an additional 2,009,175 shares in the last quarter. Invesco Ltd. grew its stake in CCC Intelligent Solutions by 19.2% during the third quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock worth $104,437,000 after buying an additional 1,260,457 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of CCC Intelligent Solutions during the third quarter worth approximately $8,694,000. Finally, Gotham Asset Management LLC raised its stake in shares of CCC Intelligent Solutions by 16.4% in the third quarter. Gotham Asset Management LLC now owns 85,976 shares of the company’s stock valued at $1,148,000 after acquiring an additional 12,112 shares during the last quarter. Institutional investors own 95.79% of the company’s stock.

Insider Activity at CCC Intelligent Solutions

In related news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the transaction, the director now directly owns 5,164,022 shares in the company, valued at $58,508,369.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the sale, the director now directly owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Herb sold 23,521 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $11.81, for a total transaction of $277,783.01. Following the completion of the sale, the insider now directly owns 288,076 shares in the company, valued at approximately $3,402,177.56. The disclosure for this sale can be found here. Insiders have sold 59,706,755 shares of company stock worth $681,785,331 over the last three months. Company insiders own 6.67% of the company’s stock.

About CCC Intelligent Solutions

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.