William Blair Issues Pessimistic Estimate for CCCS Earnings

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) – Analysts at William Blair reduced their FY2024 EPS estimates for CCC Intelligent Solutions in a research note issued to investors on Tuesday, October 29th. William Blair analyst D. Becker now anticipates that the company will post earnings of $0.17 per share for the year, down from their prior forecast of $0.18. 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’ FY2025 earnings at $0.29 EPS.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a research note on Tuesday, August 20th. They set a “buy” rating and a $15.00 price objective for the company. Barclays dropped their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday. Jefferies Financial Group dropped their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.56.

CCC Intelligent Solutions Stock Down 1.9 %

CCCS stock opened at $10.41 on Friday. CCC Intelligent Solutions has a 52 week low of $9.79 and a 52 week high of $12.68. The stock has a market capitalization of $6.51 billion, a P/E ratio of 70.73, a P/E/G ratio of 6.15 and a beta of 0.62. The company has a quick ratio of 2.79, a current ratio of 3.19 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $10.84 and a 200-day simple moving average of $11.01.

CCC Intelligent Solutions (NYSE:CCCS) last released its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $238.48 million during the quarter, compared to analysts’ expectations of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share.

Hedge Funds Weigh In On CCC Intelligent Solutions

Several large investors have recently made changes to their positions in CCCS. American International Group Inc. lifted its holdings in shares of CCC Intelligent Solutions by 68.6% in the 1st quarter. American International Group Inc. now owns 2,789 shares of the company’s stock worth $33,000 after acquiring an additional 1,135 shares during the last quarter. CWM LLC lifted its holdings in shares of CCC Intelligent Solutions by 352.6% in the 2nd quarter. CWM LLC now owns 3,105 shares of the company’s stock worth $34,000 after acquiring an additional 2,419 shares during the last quarter. Twin Tree Management LP purchased a new stake in CCC Intelligent Solutions during the 1st quarter worth approximately $53,000. Quarry LP increased its stake in CCC Intelligent Solutions by 304.0% during the 2nd quarter. Quarry LP now owns 11,219 shares of the company’s stock worth $125,000 after buying an additional 8,442 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in CCC Intelligent Solutions by 15.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after buying an additional 1,564 shares during the period. 95.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CCC Intelligent Solutions

In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the transaction, the insider now directly owns 30,172 shares in the company, valued at $324,349. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Eileen Schloss sold 99,925 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $9.89, for a total value of $988,258.25. Following the transaction, the director now directly owns 54,047 shares in the company, valued at approximately $534,524.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael John Silva sold 29,022 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $10.75, for a total transaction of $311,986.50. Following the completion of the transaction, the insider now owns 30,172 shares in the company, valued at approximately $324,349. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,323 shares of company stock worth $2,157,354 in the last ninety days. 6.67% of the stock is owned by insiders.

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.