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

CCC Intelligent Solutions (NYSE:CCCS) posted its quarterly earnings data 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. The company had revenue of $238.48 million for the quarter, compared to the consensus estimate 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 revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm 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 Price Performance

Shares of CCC Intelligent Solutions stock traded down $0.32 on Wednesday, hitting $10.61. 3,056,784 shares of the company traded hands, compared to its average volume of 3,445,396. The stock has a market capitalization of $6.61 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 debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 2.79. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.68. The business has a 50-day simple moving average of $10.84 and a 200 day simple moving average of $11.02.

Insider Activity

In related news, Director Eileen Schloss sold 99,925 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $9.89, for a total value of $988,258.25. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other CCC Intelligent Solutions news, insider John Page Goodson sold 45,560 shares of CCC Intelligent Solutions stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eileen Schloss sold 99,925 shares of CCC Intelligent Solutions stock in a transaction 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 transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 213,323 shares of company stock worth $2,157,354 over the last quarter. Insiders own 6.67% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Tuesday. Bank of America began coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective on the stock. Barclays decreased 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 research note on Tuesday. JPMorgan Chase & Co. decreased 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 research note on Tuesday. Finally, Jefferies Financial Group decreased 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 research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.