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

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) is expected to issue its quarterly earnings data 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. Parties interested in listening to the company's conference call can do so using this link.

CCC Intelligent Solutions Price Performance

CCC Intelligent Solutions stock traded down $0.14 during midday trading on Friday, reaching $10.43. The company's stock had a trading volume of 3,176,565 shares, compared to its average volume of 4,087,796. CCC Intelligent Solutions has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.19 and a current ratio of 3.19. The stock's 50 day simple moving average is $11.31 and its 200 day simple moving average is $11.21. The firm has a market capitalization of $6.84 billion, a PE ratio of 521.76 and a beta of 0.71.

CCC Intelligent Solutions announced that its board has approved a share repurchase plan on Friday, December 20th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CAO Rodney Christo sold 9,916 shares of the firm's stock in a transaction that occurred 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 SEC, which is available through this link. Also, Director Crescenzo Neil E. De bought 100,000 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company's stock, valued at approximately $1,216,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 6.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CCCS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Barclays dropped their price target on CCC Intelligent Solutions from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. Morgan Stanley upgraded CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. Piper Sandler restated a "neutral" rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Finally, Barrington Research restated an "outperform" rating and issued a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

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.