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) – Analysts at William Blair dropped their Q3 2024 earnings estimates for CCC Intelligent Solutions in a report released on Wednesday, May 1st. William Blair analyst D. Becker now anticipates that the company will earn $0.04 per share for the quarter, down from their prior forecast of $0.05. The consensus estimate for CCC Intelligent Solutions’ current full-year earnings is $0.18 per share.

Other equities analysts have also issued reports about the stock. Barclays lifted their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Piper Sandler upped their price objective on shares of CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Evercore ISI raised their target price on CCC Intelligent Solutions from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Citigroup reiterated a “buy” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Thursday, February 8th. Finally, Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.63.

CCC Intelligent Solutions Trading Up 1.2 %

Shares of NYSE:CCCS opened at $10.81 on Friday. 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 12-month low of $8.74 and a 12-month high of $13.41. The business has a 50 day moving average of $11.71 and a two-hundred day moving average of $11.44. The company has a market capitalization of $6.64 billion, a PE ratio of -51.48 and a beta of 0.63.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings data 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 company had revenue of $228.60 million during the quarter, compared to analyst estimates of $222.80 million.

Institutional Investors Weigh In On CCC Intelligent Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in CCCS. Fort Washington Investment Advisors Inc. OH raised its stake in CCC Intelligent Solutions by 6.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 2,225,063 shares of the company’s stock worth $25,343,000 after purchasing an additional 127,738 shares during the period. Riverbridge Partners LLC raised its position in shares of CCC Intelligent Solutions by 41.6% during the 4th quarter. Riverbridge Partners LLC now owns 6,836,239 shares of the company’s stock valued at $77,865,000 after buying an additional 2,009,175 shares during the period. Invesco Ltd. lifted its holdings in CCC Intelligent Solutions by 19.2% in the third quarter. Invesco Ltd. now owns 7,822,986 shares of the company’s stock valued at $104,437,000 after acquiring an additional 1,260,457 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in CCC Intelligent Solutions in the third quarter worth approximately $8,694,000. Finally, Gotham Asset Management LLC increased its stake in CCC Intelligent Solutions by 16.4% during the third quarter. Gotham Asset Management LLC now owns 85,976 shares of the company’s stock worth $1,148,000 after acquiring an additional 12,112 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lauren Young sold 41,165,139 shares of CCC Intelligent Solutions stock in a transaction that occurred on 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 sale, the director now directly owns 5,164,022 shares of the company’s stock, valued at $58,508,369.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Lauren Young sold 41,165,139 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total value of $466,401,024.87. Following the completion of the sale, the director now directly owns 5,164,022 shares in the company, valued at $58,508,369.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Githesh Ramamurthy sold 57,619 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $11.52, for a total transaction of $663,770.88. Following the transaction, the insider now owns 6,463,840 shares in the company, valued at $74,463,436.80. The disclosure for this sale can be found here. In the last three months, insiders sold 59,706,755 shares of company stock worth $681,785,331. Corporate insiders own 6.67% 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.