CCC Intelligent Solutions (NYSE:CCCS) Posts 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $237.41 million. During the same quarter last year, the firm posted $0.03 EPS. The business’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 Performance

Shares of NYSE CCCS remained flat at $10.95 during trading on Tuesday. The stock had a trading volume of 2,147,970 shares, compared to its average volume of 3,433,690. CCC Intelligent Solutions has a fifty-two week low of $9.79 and a fifty-two week high of $12.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.79 and a quick ratio of 2.79. The company’s 50-day moving average is $10.84 and its two-hundred day moving average is $11.02. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of -52.14, a PEG ratio of 6.26 and a beta of 0.62.

Insider Transactions at CCC Intelligent Solutions

In related news, insider Michael John Silva sold 29,022 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the sale, the insider now directly owns 30,172 shares of the company’s stock, valued at approximately $324,349. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Rodney Christo sold 4,177 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $10.24, for a total transaction of $42,772.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael John Silva sold 29,022 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total value of $311,986.50. Following the sale, the insider now directly owns 30,172 shares of the company’s stock, valued at $324,349. 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 238,387 shares of company stock worth $2,414,009 in the last quarter. Company insiders own 6.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CCCS shares. Barrington Research reiterated an “outperform” rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday. Jefferies Financial Group decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday. Bank of America assumed coverage on CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Barclays decreased their price objective on CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.