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

CCC Intelligent Solutions (NYSE:CCCS) is projected to announce its earnings results after the market closes on Tuesday, February 25th. Analysts expect the company to announce earnings of $0.10 per share and revenue of $245.09 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

CCC Intelligent Solutions Price Performance

NYSE:CCCS opened at $10.43 on Friday. The stock has a market cap of $6.84 billion, a P/E ratio of 521.76 and a beta of 0.71. CCC Intelligent Solutions has a one year low of $9.79 and a one year high of $12.88. The company has a fifty day moving average price of $11.31 and a 200 day moving average price of $11.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions declared that its board has approved a stock buyback plan on Friday, December 20th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 9,916 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mary Jo Prigge sold 19,276 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $244,226.92. Following the sale, the insider now directly owns 97,268 shares of the company’s stock, valued at $1,232,385.56. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CCCS shares. JPMorgan Chase & Co. upped their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Barclays lowered 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. Piper Sandler reissued a “neutral” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a report on Wednesday, December 11th. Barrington Research reissued an “outperform” rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a report on Tuesday, October 29th. Finally, Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $14.00 to $15.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

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.