CCC Intelligent Solutions (NYSE:CCCS) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

CCC Intelligent Solutions (NYSE:CCCS) announced its quarterly earnings results on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01, Briefing.com reports. CCC Intelligent Solutions had a net margin of 2.36% and a return on equity of 5.17%. The firm had revenue of $232.60 million for the quarter, compared to analyst estimates of $230.16 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. CCC Intelligent Solutions updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

CCC Intelligent Solutions Trading Down 0.4 %

Shares of CCC Intelligent Solutions stock traded down $0.04 on Thursday, hitting $10.22. 9,418,652 shares of the company’s stock traded hands, compared to its average volume of 3,803,769. The firm’s 50-day moving average price is $11.32 and its two-hundred day moving average price is $11.38. The stock has a market capitalization of $6.35 billion, a PE ratio of -48.86 and a beta of 0.62. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.53 and a quick ratio of 2.53. CCC Intelligent Solutions has a one year low of $10.05 and a one year high of $13.41.

Insider Buying and Selling at CCC Intelligent Solutions

In related news, insider Githesh Ramamurthy sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $11.78, for a total value of $11,780,000.00. Following the completion of the sale, the insider now owns 6,463,840 shares in the company, valued at approximately $76,144,035.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 1,000,000 shares of CCC Intelligent Solutions stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $11.78, for a total value of $11,780,000.00. Following the sale, the insider now owns 6,463,840 shares of the company’s stock, valued at approximately $76,144,035.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director International L.P. Advent sold 41,622,992 shares of CCC Intelligent Solutions stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $11.43, for a total value of $475,750,798.56. Following the completion of the sale, the director now directly owns 3,812,112 shares in the company, valued at approximately $43,572,440.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,777,216 shares of company stock valued at $771,814,055. 6.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on CCCS shares. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday. Jefferies Financial Group decreased their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.56.

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.