CCC Intelligent Solutions (NYSE:CCCS) Announces Earnings Results, Beats Estimates By $0.01 EPS

CCC Intelligent Solutions (NYSE:CCCS) issued its quarterly earnings results on Monday. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01, Briefing.com reports. CCC Intelligent Solutions had a return on equity of 5.16% and a net margin of 2.36%. The firm had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. CCC Intelligent Solutions’s revenue for the quarter 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 Stock Down 0.2 %

Shares of CCC Intelligent Solutions stock opened at $10.93 on Wednesday. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The business’s 50 day simple moving average is $10.85 and its 200-day simple moving average is $11.02. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -52.05, a PEG ratio of 6.26 and a beta of 0.62. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.68.

Insider Transactions at CCC Intelligent Solutions

In related news, Director Eileen Schloss sold 99,925 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.89, for a total value of $988,258.25. Following the completion of the transaction, the director now directly owns 54,047 shares of the company’s stock, valued at $534,524.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider John Page Goodson sold 45,560 shares of the 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 completion of the transaction, the insider now directly owns 87,892 shares of the company’s stock, valued at $885,951.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eileen Schloss sold 99,925 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.89, for a total value of $988,258.25. Following the completion of the transaction, the director now directly owns 54,047 shares of the company’s stock, valued at $534,524.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety 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.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America initiated coverage on CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 price objective on the stock. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday. Jefferies Financial Group cut their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Barclays cut their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, CCC Intelligent Solutions presently has an average rating of “Moderate Buy” and an average target price 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.