CCC Intelligent Solutions Holdings Inc. Expected to Post Q2 2024 Earnings of $0.03 Per Share (NYSE:CCCS)

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) – Investment analysts at William Blair dropped their Q2 2024 EPS estimates for CCC Intelligent Solutions in a research note issued to investors on Wednesday, May 1st. William Blair analyst D. Becker now expects that the company will post earnings of $0.03 per share for the quarter, down from their previous estimate of $0.05. The consensus estimate for CCC Intelligent Solutions’ current full-year earnings is $0.16 per share. William Blair also issued estimates for CCC Intelligent Solutions’ FY2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.06 EPS and FY2025 earnings at $0.23 EPS.

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

Other equities research analysts have also recently issued reports about the stock. Piper Sandler lifted their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Evercore ISI lifted their price objective on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Citigroup restated a “buy” rating and set a $13.00 price objective on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Barrington Research restated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 1st. Finally, Barclays boosted their price target 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.63.

CCC Intelligent Solutions Price Performance

Shares of NYSE CCCS opened at $10.91 on Monday. CCC Intelligent Solutions has a fifty-two week low of $8.81 and a fifty-two week high of $13.41. The firm’s 50-day simple moving average is $11.71 and its 200 day simple moving average is $11.43. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.43. The stock has a market cap of $6.71 billion, a P/E ratio of -51.95 and a beta of 0.63.

Insiders Place Their Bets

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

Hedge Funds Weigh In On CCC Intelligent Solutions

Several institutional investors and hedge funds have recently bought and sold shares of CCCS. Simplicity Solutions LLC purchased a new position in CCC Intelligent Solutions during the 3rd quarter valued at about $181,000. Raymond James & Associates purchased a new position in shares of CCC Intelligent Solutions during the 3rd quarter valued at $2,131,000. Bank of New York Mellon Corp increased its stake in shares of CCC Intelligent Solutions by 14.3% in the third quarter. Bank of New York Mellon Corp now owns 1,015,298 shares of the company’s stock worth $13,554,000 after acquiring an additional 127,152 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CCC Intelligent Solutions by 36.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,923 shares of the company’s stock worth $533,000 after acquiring an additional 10,685 shares in the last quarter. Finally, Strs Ohio boosted its position in CCC Intelligent Solutions by 23.6% during the third quarter. Strs Ohio now owns 161,746 shares of the company’s stock valued at $2,159,000 after purchasing an additional 30,866 shares during the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.