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

CCC Intelligent Solutions (NYSE:CCCS) announced its quarterly earnings data on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01, Briefing.com reports. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.16%. The company had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s revenue 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 2.9 %

Shares of CCC Intelligent Solutions stock traded down $0.32 during trading on Wednesday, hitting $10.61. The company’s stock had a trading volume of 3,056,784 shares, compared to its average volume of 3,445,396. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.79 and a current ratio of 2.79. The company has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $11.02. The company has a market capitalization of $6.61 billion, a PE ratio of 530.50, a P/E/G ratio of 6.26 and a beta of 0.62. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.68.

Insider Buying and Selling

In related news, Director Eileen Schloss sold 99,925 shares of the 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 sale, the director now directly 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 sale 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 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 sale, the director now directly 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 sale 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 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 sale, the insider now directly owns 87,892 shares in the company, valued at $885,951.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 213,323 shares of company stock worth $2,157,354 in the last three months. 6.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CCCS has been the subject of several analyst reports. Barrington Research reissued 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 dropped their price target on shares of 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. Bank of America initiated coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 price target for the company. Barclays dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.56.

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.