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

CCC Intelligent Solutions (NYSE:CCCS) is scheduled to be announcing its earnings results 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

CCC Intelligent Solutions (NYSE:CCCS) last released its quarterly earnings data 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). CCC Intelligent Solutions had a negative net margin of 10.67% and a positive return on equity of 5.80%. The business had revenue of $228.60 million for the quarter, compared to the consensus estimate of $222.80 million. 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 Stock Performance

NYSE:CCCS opened at $11.50 on Friday. CCC Intelligent Solutions has a fifty-two week low of $8.42 and a fifty-two week high of $13.41. 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 stock has a market capitalization of $6.95 billion, a PE ratio of -54.76 and a beta of 0.62. The business’s 50-day simple moving average is $11.75 and its 200-day simple moving average is $11.49.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other CCC Intelligent Solutions news, insider Githesh Ramamurthy sold 57,619 shares of the business’s stock in a transaction that occurred 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 owns 6,463,840 shares of the company’s stock, valued at approximately $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 related news, insider Githesh Ramamurthy sold 57,619 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $11.52, for a total value of $663,770.88. Following the sale, the insider now owns 6,463,840 shares in the company, valued at approximately $74,463,436.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rodney Christo sold 4,606 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $11.88, for a total value of $54,719.28. Following the sale, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at approximately $168,149.52. The disclosure for this sale can be found here. Insiders have sold 59,706,755 shares of company stock valued at $681,785,331 in the last 90 days. 6.47% of the stock is currently 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.