CCC Intelligent Solutions (CCCS) Projected to Post 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 wish to listen to the company’s conference call can do so using this link.

CCC Intelligent Solutions Stock Down 1.3 %

Shares of NYSE CCCS opened at $10.43 on Monday. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 521.76 and a beta of 0.71. 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 has a 52-week low of $9.79 and a 52-week high of $12.88. The business’s 50 day moving average is $11.31 and its two-hundred day moving average is $11.23.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other CCC Intelligent Solutions news, Director Crescenzo Neil E. De bought 100,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $1,216,000.00. Following the completion of the purchase, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.