William Blair Issues Pessimistic Estimate for CCCS Earnings

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) – Equities researchers at William Blair cut their FY2024 earnings estimates for CCC Intelligent Solutions in a report released on Tuesday, October 29th. William Blair analyst D. Becker now expects that the company will post earnings per share of $0.17 for the year, down from their previous 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.

Several other research firms also recently commented on CCCS. Bank of America initiated 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. Jefferies Financial Group lowered 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. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Tuesday. JPMorgan Chase & Co. lowered 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. Finally, Barclays lowered 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.56.

CCC Intelligent Solutions Price Performance

Shares of CCCS opened at $10.41 on Friday. The company has a market cap of $6.51 billion, a price-to-earnings ratio of 70.73, a price-to-earnings-growth ratio of 6.15 and a beta of 0.62. CCC Intelligent Solutions has a twelve month low of $9.79 and a twelve month high of $12.68. 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 company has a 50 day moving average of $10.84 and a two-hundred day moving average of $11.01.

CCC Intelligent Solutions (NYSE:CCCS) last announced its earnings results on Monday, October 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million during the quarter, compared to the consensus estimate of $237.41 million. CCC Intelligent Solutions had a net margin of 5.02% and a return on equity of 5.35%. CCC Intelligent Solutions’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.03 earnings per share.

Insider Activity at CCC Intelligent Solutions

In related news, insider Michael John Silva sold 29,022 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were 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 directly owns 30,172 shares in the company, valued at $324,349. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CCC Intelligent Solutions news, insider Michael John Silva sold 29,022 shares of CCC Intelligent Solutions stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.75, for a total value of $311,986.50. Following the completion of the transaction, the insider now owns 30,172 shares of the company’s stock, valued at approximately $324,349. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Jo Prigge sold 38,816 shares of CCC Intelligent Solutions stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $10.25, for a total transaction of $397,864.00. Following the completion of the transaction, the insider now directly owns 97,268 shares of the company’s stock, valued at $996,997. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,323 shares of company stock worth $2,157,354 over the last three months. Company insiders own 6.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCCS. American International Group Inc. increased its holdings in CCC Intelligent Solutions by 68.6% in the first quarter. American International Group Inc. now owns 2,789 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares in the last quarter. CWM LLC increased its holdings in CCC Intelligent Solutions by 352.6% in the second quarter. CWM LLC now owns 3,105 shares of the company’s stock valued at $34,000 after buying an additional 2,419 shares in the last quarter. Twin Tree Management LP purchased a new position in CCC Intelligent Solutions in the first quarter valued at $53,000. Quarry LP increased its holdings in CCC Intelligent Solutions by 304.0% in the second quarter. Quarry LP now owns 11,219 shares of the company’s stock valued at $125,000 after buying an additional 8,442 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of CCC Intelligent Solutions by 15.2% during the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company’s stock worth $132,000 after purchasing an additional 1,564 shares in the last quarter. Hedge funds and other institutional investors own 95.79% of the company’s stock.

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.