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

CCC Intelligent Solutions (NYSE:CCCS) is expected to be issuing 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 registering for the company’s conference call can do so using this link.

CCC Intelligent Solutions Price Performance

CCCS opened at $10.43 on Friday. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 521.76 and a beta of 0.71. CCC Intelligent Solutions has a fifty-two week low of $9.79 and a fifty-two week high of $12.88. The company’s 50-day moving average price is $11.31 and its 200 day moving average price is $11.22. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.39.

CCC Intelligent Solutions announced that its board has authorized a stock repurchase program on Friday, December 20th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to buy up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at CCC Intelligent Solutions

In related news, CAO Rodney Christo sold 9,916 shares of the business’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 transaction of $125,635.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mary Jo Prigge sold 19,276 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $12.67, for a total transaction of $244,226.92. Following the completion of the sale, the insider now owns 97,268 shares of the company’s stock, valued at $1,232,385.56. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CCCS has been the topic of several research reports. Barclays dropped their price objective on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Barrington Research restated an “outperform” rating and issued a $14.00 target price on shares of CCC Intelligent Solutions in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Piper Sandler restated a “neutral” rating and issued a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.