CCC Intelligent Solutions Holdings Inc. to Post Q3 2024 Earnings of $0.04 Per Share, William Blair Forecasts (NYSE:CCCS)

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) – Equities research analysts at William Blair lowered their Q3 2024 earnings per share (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 $0.04 per share for the quarter, down from their previous forecast of $0.05. The consensus estimate for CCC Intelligent Solutions’ current full-year earnings is $0.18 per share.

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

Several other research analysts have also recently weighed in on CCCS. Barrington Research reissued an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday. Barclays boosted their price objective on 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. Citigroup restated a “buy” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Evercore ISI boosted their target price on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, Piper Sandler boosted their target price on CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

CCC Intelligent Solutions Stock Up 1.2 %

CCCS stock opened at $10.81 on Friday. The stock’s fifty day simple moving average is $11.71 and its two-hundred day simple moving average is $11.44. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions has a 1-year low of $8.74 and a 1-year high of $13.41. The stock has a market cap of $6.64 billion, a P/E ratio of -51.48 and a beta of 0.63.

Insider Activity at CCC Intelligent Solutions

In related news, Director Lauren Young sold 41,165,139 shares of the business’s stock in a transaction on 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 directly 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 accessible through the SEC website. In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $11.33, for a total value of $466,401,024.87. Following the transaction, the director now directly owns 5,164,022 shares in the company, valued at approximately $58,508,369.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Rodney Christo sold 30,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.50, for a total value of $375,000.00. Following the completion of the transaction, the chief accounting officer now owns 14,154 shares in the company, valued at $176,925. The disclosure for this sale can be found here. In 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 company insiders.

Hedge Funds Weigh In On CCC Intelligent Solutions

A number of institutional investors have recently added to or reduced their stakes in CCCS. Banque Cantonale Vaudoise increased its stake in CCC Intelligent Solutions by 128.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after acquiring an additional 1,424 shares during the last quarter. Park Place Capital Corp lifted its stake in CCC Intelligent Solutions by 65.9% during the fourth quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock worth $48,000 after purchasing an additional 1,659 shares during the last quarter. Covestor Ltd boosted its holdings in shares of CCC Intelligent Solutions by 781.7% in the 3rd quarter. Covestor Ltd now owns 6,895 shares of the company’s stock worth $92,000 after purchasing an additional 6,113 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at about $99,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of CCC Intelligent Solutions during the 4th quarter valued at about $119,000. 95.79% of the stock is currently owned by institutional investors.

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.