William Blair Research Analysts Cut Earnings Estimates for CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) – William Blair dropped their Q2 2024 earnings per share (EPS) estimates for CCC Intelligent Solutions in a note issued to investors on Wednesday, May 1st. William Blair analyst D. Becker now forecasts that the company will post earnings of $0.03 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 $0.16 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.

CCCS has been the subject of several other reports. Barclays increased their target price on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Evercore ISI boosted their target price on shares of CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Citigroup reaffirmed a “buy” rating and set a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Piper Sandler boosted 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 note on Friday, March 1st. Finally, Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, CCC Intelligent Solutions has an average rating of “Moderate Buy” and a consensus target price of $13.63.

CCC Intelligent Solutions Stock Down 0.5 %

Shares of CCCS opened at $10.86 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.53 and a current ratio of 2.53. CCC Intelligent Solutions has a 52 week low of $8.81 and a 52 week high of $13.41. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of -51.71 and a beta of 0.63. The stock has a fifty day moving average of $11.70 and a 200-day moving average of $11.41.

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 company had revenue of $228.60 million for the quarter, compared to the consensus estimate of $222.80 million.

Insider Buying and Selling at CCC Intelligent Solutions

In other news, insider Brian Herb sold 23,521 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $11.81, for a total transaction of $277,783.01. Following the completion of the sale, the insider now owns 288,076 shares of the company’s stock, valued at approximately $3,402,177.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other CCC Intelligent Solutions news, CAO Rodney Christo sold 30,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.50, for a total value of $375,000.00. Following the transaction, the chief accounting officer now owns 14,154 shares in the company, valued at $176,925. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Herb sold 23,521 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were 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 of the company’s stock, valued at approximately $3,402,177.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,706,755 shares of company stock valued at $681,785,331. 6.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise grew its holdings in CCC Intelligent Solutions by 128.4% during the first quarter. Banque Cantonale Vaudoise now owns 2,533 shares of the company’s stock worth $30,000 after buying an additional 1,424 shares in the last quarter. Park Place Capital Corp grew its stake in shares of CCC Intelligent Solutions by 65.9% in the 4th quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock worth $48,000 after acquiring an additional 1,659 shares in the last quarter. Covestor Ltd grew its stake 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 acquiring an additional 6,113 shares in the last quarter. Parkside Financial Bank & Trust purchased a new stake in shares of CCC Intelligent Solutions in the fourth quarter valued at about $99,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of CCC Intelligent Solutions during the fourth quarter valued at about $119,000. 95.79% of the stock is currently owned by institutional investors and hedge funds.

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.