Brokers Offer Predictions for CCC Intelligent Solutions Holdings Inc.’s Q2 2024 Earnings (NYSE:CCCS)

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) – William Blair reduced their Q2 2024 earnings estimates for shares of CCC Intelligent Solutions in a research report issued to clients and investors on Wednesday, May 1st. William Blair analyst D. Becker now forecasts that the company will post earnings per share of $0.03 for the quarter, down from their previous 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.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results 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). The company had revenue of $228.60 million for the quarter, compared to analysts’ expectations of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.52%.

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

CCC Intelligent Solutions Stock Down 0.5 %

CCCS stock opened at $10.86 on Monday. The business’s 50-day moving average price is $11.70 and its 200-day moving average price is $11.41. The stock has a market cap of $6.67 billion, a P/E ratio of -51.71 and a beta of 0.63. CCC Intelligent Solutions has a twelve month low of $8.81 and a twelve month high of $13.41. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On CCC Intelligent Solutions

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

Insider Buying and Selling at CCC Intelligent Solutions

In other news, SVP Marc Fredman sold 324,952 shares of CCC Intelligent Solutions stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $12.15, for a total value of $3,948,166.80. Following the sale, the senior vice president now directly owns 212,542 shares of the company’s stock, valued at $2,582,385.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the completion of the transaction, the director now owns 5,164,022 shares in the company, valued at $58,508,369.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marc Fredman sold 324,952 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $12.15, for a total transaction of $3,948,166.80. Following the completion of the sale, the senior vice president now owns 212,542 shares in the company, valued at $2,582,385.30. The disclosure for this sale can be found here. Insiders sold 59,706,755 shares of company stock valued at $681,785,331 in the last 90 days. 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.