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

CCC Intelligent Solutions (NYSE:CCCS) announced its earnings results on Monday. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $237.41 million. During the same period in the previous year, the business earned $0.03 EPS. The firm’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 Performance

Shares of CCCS stock traded down $0.05 on Thursday, hitting $10.56. The company had a trading volume of 427,180 shares, compared to its average volume of 3,430,876. The firm has a market cap of $6.58 billion, a P/E ratio of 530.50, a price-to-earnings-growth ratio of 6.26 and a beta of 0.62. The company has a 50-day moving average price of $10.84 and a 200-day moving average price of $11.02. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.40. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.68.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several research analyst reports. 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 target price on the stock. JPMorgan Chase & Co. lowered their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday. Jefferies Financial Group lowered their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays lowered their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.56.

Insider Activity

In related news, Director Eileen Schloss sold 99,925 shares of the company’s stock in a transaction dated 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 owns 54,047 shares of the company’s stock, valued at approximately $534,524.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Eileen Schloss sold 99,925 shares of the company’s stock in a transaction dated 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 owns 54,047 shares of the company’s stock, valued at approximately $534,524.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Page Goodson sold 45,560 shares of the company’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 213,323 shares of company stock valued at $2,157,354 in the last quarter. 6.67% of the stock is currently owned by company insiders.

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.