CCC Intelligent Solutions (NYSE:CCCS – Get Free Report) announced its earnings results on Tuesday. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01, Briefing.com reports. The firm had revenue of $232.60 million for the quarter, compared to the consensus estimate of $230.16 million. CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.52%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. CCC Intelligent Solutions updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.
CCC Intelligent Solutions Stock Down 7.0 %
Shares of CCC Intelligent Solutions stock traded down $0.77 on Wednesday, reaching $10.26. 15,252,581 shares of the company were exchanged, compared to its average volume of 3,765,311. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of -48.86 and a beta of 0.62. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions has a one year low of $10.05 and a one year high of $13.41. The company has a 50-day moving average of $11.32 and a 200 day moving average of $11.38.
Insider Activity at CCC Intelligent Solutions
In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 1,000,000 shares of the 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 $76,144,035.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 1,000,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $76,144,035.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mary Jo Prigge sold 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $11.50, for a total value of $1,150,000.00. Following the transaction, the insider now owns 86,825 shares of the company’s stock, valued at $998,487.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,777,216 shares of company stock valued at $771,814,055. 6.67% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
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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.
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