What is William Blair’s Estimate for CCCS FY2024 Earnings?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) – Equities researchers at William Blair dropped their FY2024 earnings estimates for CCC Intelligent Solutions in a note issued to investors on Tuesday, October 29th. William Blair analyst D. Becker now anticipates that the company will earn $0.17 per share for the year, down from their previous estimate 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.

CCC Intelligent Solutions (NYSE:CCCS) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $238.48 million for 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%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS.

Several other brokerages also recently commented on CCCS. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Barclays cut their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. JPMorgan Chase & Co. decreased 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 report on Tuesday, October 29th. Jefferies Financial Group dropped their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Bank of America began coverage on shares of CCC Intelligent Solutions in a research report on Tuesday, August 20th. They set a “buy” rating and a $15.00 target price on the stock. Three investment 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 stock has a consensus rating of “Moderate Buy” and an average target price of $13.56.

CCC Intelligent Solutions Trading Up 0.6 %

CCCS opened at $10.47 on Friday. CCC Intelligent Solutions has a one year low of $9.79 and a one year high of $12.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.79 and a current ratio of 3.19. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 523.76, a P/E/G ratio of 6.15 and a beta of 0.62. The stock’s 50 day moving average price is $10.83 and its 200-day moving average price is $11.00.

Institutional Investors Weigh In On CCC Intelligent Solutions

A number of large investors have recently modified their holdings of CCCS. Ghisallo Capital Management LLC purchased a new stake in shares of CCC Intelligent Solutions during the second quarter valued at $132,917,000. Akre Capital Management LLC purchased a new stake in CCC Intelligent Solutions during the 1st quarter valued at about $83,720,000. Principal Financial Group Inc. increased its holdings in shares of CCC Intelligent Solutions by 37.8% in the second quarter. Principal Financial Group Inc. now owns 25,250,230 shares of the company’s stock valued at $280,530,000 after purchasing an additional 6,921,161 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of CCC Intelligent Solutions in the second quarter worth about $70,844,000. Finally, Van Berkom & Associates Inc. acquired a new stake in shares of CCC Intelligent Solutions during the second quarter worth about $61,605,000. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Activity

In other news, insider John Page Goodson sold 45,560 shares of CCC Intelligent Solutions stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $10.08, for a total value of $459,244.80. Following the transaction, the insider now directly owns 87,892 shares in the company, valued at approximately $885,951.36. This trade 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. In related news, insider Michael John Silva sold 29,022 shares of the stock in a transaction that occurred 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 sale, the insider now owns 30,172 shares of the company’s stock, valued at $324,349. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Page Goodson sold 45,560 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $10.08, for a total transaction of $459,244.80. Following the completion of the sale, the insider now owns 87,892 shares of the company’s stock, valued at approximately $885,951.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,323 shares of company stock worth $2,157,354. Corporate insiders own 6.67% 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.