What is William Blair's Forecast for CCCS FY2024 Earnings?

CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) - 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.

CCC Intelligent Solutions (NYSE:CCCS - Get Free Report) 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.

A number of other research analysts have also recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Barrington Research reissued an "outperform" rating and set a $14.00 target price on shares of CCC Intelligent Solutions in a report on Tuesday. Bank of America assumed coverage on shares of CCC Intelligent Solutions in a report on Tuesday, August 20th. They issued a "buy" rating and a $15.00 price objective for the company. Barclays cut 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 report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, CCC Intelligent Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $13.56.

CCC Intelligent Solutions Stock Performance

Shares of NYSE CCCS traded up $0.06 during midday trading on Friday, reaching $10.47. The company had a trading volume of 2,376,163 shares, compared to its average volume of 3,434,669. The business's 50-day simple moving average is $10.84 and its 200 day simple moving average is $11.01. The stock has a market cap of $6.55 billion, a P/E ratio of 520.76, a P/E/G ratio of 6.15 and a beta of 0.62. CCC Intelligent Solutions has a 1 year low of $9.79 and a 1 year high of $12.68. The company has a current ratio of 3.19, a quick ratio of 2.79 and a debt-to-equity ratio of 0.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCCS. American International Group Inc. raised its stake in CCC Intelligent Solutions by 68.6% during the 1st quarter. American International Group Inc. now owns 2,789 shares of the company's stock worth $33,000 after acquiring an additional 1,135 shares in the last quarter. Amalgamated Bank increased its stake in CCC Intelligent Solutions by 5.8% in the third quarter. Amalgamated Bank now owns 23,722 shares of the company's stock valued at $262,000 after purchasing an additional 1,299 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in CCC Intelligent Solutions by 2.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 67,047 shares of the company's stock valued at $745,000 after purchasing an additional 1,390 shares during the period. Parkside Financial Bank & Trust increased its stake in CCC Intelligent Solutions by 15.2% in the second quarter. Parkside Financial Bank & Trust now owns 11,849 shares of the company's stock valued at $132,000 after purchasing an additional 1,564 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in CCC Intelligent Solutions by 5.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 32,082 shares of the company's stock valued at $384,000 after purchasing an additional 1,619 shares during the period. Institutional investors and hedge funds own 95.79% of the company's stock.

Insiders Place Their Bets

In other news, Director Eileen Schloss sold 99,925 shares of the business's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $9.89, for a total value of $988,258.25. Following the sale, the director now directly owns 54,047 shares of the company's stock, valued at approximately $534,524.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Michael John Silva sold 29,022 shares of the company's 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 sale, the insider now directly owns 30,172 shares of the company's stock, valued at $324,349. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eileen Schloss sold 99,925 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $9.89, for a total transaction of $988,258.25. Following the sale, the director now directly owns 54,047 shares in the company, valued at approximately $534,524.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,323 shares of company stock valued at $2,157,354 over the last ninety days. Company insiders own 6.67% of the company's stock.

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.