Jefferies likes CCC Intelligent Solutions-EvolutionIQ deal, says expands TAM
Jefferies analyst Samad Samana reiterated a Buy rating and $13 price target on CCC Intelligent Solutions after the company agreed to acquire EvolutionIQ, an AI-powered platform for disability and injury claims management. The firm sees the implied roughly 15x equity value/revenue multiple as reasonable for an over 50% early-stage growth company with deep AI talent. Jefferies added that it likes the deal, as it expands the serviceable addressable market and total addressable market, bolsters the existing casualty business, boosts CCC's durable growth rate, and diversifies the company's industry exposure beyond auto.
CCC Intelligent Solutions Holdings Inc. (CCCS)'s Technical Outlook is Bright After Key Golden Cross
CCC Intelligent Solutions Holdings Inc. (CCCS) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CCCS's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.
CCC Intelligent Solutions Shows Growth But Industry Caution Remains A Drag
CCC Intelligent Solutions Holdings Inc. recently reported slightly better-than-expected financial results for Q3 2024. The firm provides insurance company software. CCCS has produced stable growth, but its clients continue to experience headwinds and its net revenue retention results are concerning.
CCC Intelligent Solutions Holdings Inc. (CCCS) Q3 2024 Earnings Call Transcript
CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS ) Q3 2024 Earnings Conference Call October 28, 2024 5:00 PM ET Company Participants Bill Warmington - VP, IR Githesh Ramamurthy - Chairman and CEO Brian Herb - CFO Conference Call Participants Kirk Materne - Evercore ISI Michael Funk - Bank of America Dylan Becker - William Blair Gabriela Borges - Goldman Sachs Josh Baer - Morgan Stanley Samad Samana - Jefferies Saket Kalia - Barclays Elyse Kanner - JPMorgan Chris Moore - CJS Securities Shlomo Rosenbaum - Stifel Gary Prestopino - Barrington Operator Good day, and thank you for standing by, and welcome to CCC Intelligent Solutions' Third Quarter Fiscal 2024 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded.
CCC Intelligent Solutions Holdings Inc. (CCCS) Surpasses Q3 Earnings and Revenue Estimates
CCC Intelligent Solutions Holdings Inc. (CCCS) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.09 per share a year ago.
ACGL or CCCS: Which Is the Better Value Stock Right Now?
Investors with an interest in Insurance - Property and Casualty stocks have likely encountered both Arch Capital Group (ACGL) and CCC Intelligent Solutions Holdings Inc. (CCCS). But which of these two companies is the best option for those looking for undervalued stocks?
CCC Intelligent Solutions: Waiting For Evidence That Emerging Solutions Demand Is Intact
CCC Intelligent Solutions is recommended with a hold rating. Positive highlights include strong 2Q24 performance, solid software retention metrics, and adoption of Estimate-STP. Downgrade to hold rating due to management reducing expectations for emerging solutions growth and weaker-than-expected contribution to revenue.
CCC Intelligent Solutions Holdings, Inc. (CCCS) Q2 2024 Earnings Call Transcript
CCC Intelligent Solutions Holdings, Inc. (NASDAQ:CCCS ) Q2 2024 Earnings Conference Call July 30, 2024 5:00 PM ET Corporate Participants Bill Warmington - Vice President, Investor Relations Githesh Ramamurthy - Chairman and Chief Executive Officer Brian Herb - Chief Financial Officer Conference Call Participants Dylan Becker - William Blair Alexei Gogolev - JPMorgan Samad Samana - Jefferies Saket Kalia - Barclays Gabriela Borges - Goldman Sachs Shlomo Rosenbaum - Stifel Chris Moore - CJS Securities Gary Prestopino - Barrington Research Operator Good day and thank you for standing by. Welcome to the CCC Intelligent Solutions Second Quarter Fiscal 2024 Earnings Conference Call.
CCC Intelligent Solutions Holdings Inc. (CCCS) Q2 Earnings and Revenues Surpass Estimates
CCC Intelligent Solutions Holdings Inc. (CCCS) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.07 per share a year ago.
CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Shares Acquired by Amalgamated Bank
Amalgamated Bank increased its stake in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS – Free Report) by 34.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 40,799 shares of the company’s stock after acquiring an additional 10,513 shares during the period. Amalgamated Bank’s holdings in CCC Intelligent Solutions were worth $465,000 at the end of the most recent reporting period. A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Park Place Capital Corp boosted its stake in shares of CCC Intelligent Solutions by 65.9% in the fourth quarter. Park Place Capital Corp now owns 4,175 shares of the company’s stock valued at $48,000 after purchasing an additional 1,659 shares during the period. Covestor Ltd boosted its position in CCC Intelligent Solutions by 781.7% in the 3rd quarter. Covestor Ltd now owns 6,895 shares of the company’s stock valued at $92,000 after buying an additional 6,113 shares during the last quarter. Parkside Financial Bank & Trust acquired a new stake in shares of CCC Intelligent Solutions during the fourth quarter valued at about $99,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of CCC Intelligent Solutions during the third quarter worth about $143,000. Finally, Cerity Partners LLC purchased a new position in CCC Intelligent Solutions in the fourth quarter valued at about $149,000. Hedge funds and other institutional investors own 95.79% of the company’s stock. Insiders Place Their Bets In other news, CAO Rodney Christo sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.50, for a total transaction of $375,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,154 shares in the company, valued at $176,925. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other CCC Intelligent Solutions news, Director Lauren Young sold 41,165,139 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $11.33, for a total transaction of $466,401,024.87. Following the transaction, the director now owns 5,164,022 shares of the company’s stock, valued at approximately $58,508,369.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Rodney Christo sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.50, for a total transaction of $375,000.00. Following the completion of the sale, the chief accounting officer now directly owns 14,154 shares of the company’s stock, valued at $176,925. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,706,755 shares of company stock worth $681,785,331. Insiders own 6.67% of the company’s stock. Wall Street Analysts Forecast Growth CCCS has been the subject of several research analyst reports. Piper Sandler increased their target price on CCC Intelligent Solutions from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Barrington Research reiterated an “outperform” rating and set a $14.00 price objective on shares of CCC Intelligent Solutions in a research note on Wednesday, May 1st. Barclays upped their target price on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Citigroup reiterated a “buy” rating and issued a $13.00 price target on shares of CCC Intelligent Solutions in a research note on Thursday, February 8th. Finally, Evercore ISI increased their target price on CCC Intelligent Solutions from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, CCC Intelligent Solutions currently has an average rating of “Moderate Buy” and an average price target of $13.63. Read Our Latest Stock Analysis on CCCS CCC Intelligent Solutions Trading Up 2.1 % Shares of NYSE CCCS opened at $11.21 on Monday. The company has a market cap of $6.89 billion, a price-to-earnings ratio of -53.38 and a beta of 0.63. The stock’s 50 day simple moving average is $11.51 and its 200 day simple moving average is $11.39. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.43. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.32 and a 12-month high of $13.41. CCC Intelligent Solutions (NYSE:CCCS – Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). CCC Intelligent Solutions had a negative net margin of 10.85% and a positive return on equity of 4.52%. The firm had revenue of $228.60 million for the quarter, compared to analyst estimates of $222.80 million. Equities research analysts expect that CCC Intelligent Solutions Holdings Inc. will post 0.16 EPS for the current year. CCC Intelligent Solutions Profile (Free Report) 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. See Also Five stocks we like better than CCC Intelligent Solutions 3 Grocery Stocks That Can Help Take a Bite Out of Inflation MarketBeat Week in Review – 5/13 – 5/17 What is the Nikkei 225 index? Take-Two Interactive Software Offers 2nd Chance for Investors Why Invest in High-Yield Dividend Stocks? Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
CCC Intelligent Solutions: IX Cloud To Provide More Cross-Selling Opportunities
CCC Intelligent Solutions reported 11% revenue growth in 1Q24, beating estimates, and raised its FY24 revenue guidance. CCCS has a long growth runway and significant opportunities for cross-selling in the auto-claims process and the broader P&C insurance market. The introduction of the IX Cloud platform will make CCCS more sticky and drive further cross-selling opportunities, while AI-related products and payments offer additional growth potential.
