CCC Intelligent Solutions (CCCS) Set to Announce Earnings on Tuesday

CCC Intelligent Solutions (NYSE:CCCS) will issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.09 per share for the quarter. CCC Intelligent Solutions has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

CCC Intelligent Solutions (NYSE:CCCS) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $222.80 million. CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. On average, analysts expect CCC Intelligent Solutions to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $11.50 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.29 and a quick ratio of 2.29. The business has a 50 day simple moving average of $11.75 and a 200-day simple moving average of $11.48. The firm has a market capitalization of $6.95 billion, a PE ratio of -54.76 and a beta of 0.62. CCC Intelligent Solutions has a 1 year low of $8.42 and a 1 year high of $13.41.

Analyst Ratings Changes

Several research analysts recently weighed in on CCCS shares. Barclays increased their price objective on CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Piper Sandler increased their price objective on CCC Intelligent Solutions from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Barrington Research reiterated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Thursday, February 29th. Citigroup reiterated a “buy” rating and issued a $13.00 price objective on shares of CCC Intelligent Solutions in a research report on Thursday, February 8th. Finally, Evercore ISI increased their price objective on CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.63.

Insiders Place Their Bets

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 57,619 shares of the company’s stock in a transaction on 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 directly owns 6,463,840 shares in the company, valued at $74,463,436.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Rodney Christo sold 30,000 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 14,154 shares in the company, valued at $176,925. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Githesh Ramamurthy sold 57,619 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $11.52, for a total value of $663,770.88. Following the completion of the sale, 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. Insiders have sold 59,706,755 shares of company stock worth $681,785,331 over the last ninety days. Corporate insiders own 6.47% 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.