In dynamical systems studies, the so-called Riccati and Lyapunov equations play an important role in stability analysis, optimal control and filtering design. In this paper, upper matrix bounds for the perturbation of the stabilizing solution of the continuous algebraic Riccati equation (CARE) are derived for the case when one, or all the coefficient matrices are subject to small perturbations. Comparing with existing works on this topic, the proposed bounds are less restrictive. In addition to these bounds, iterative algorithms are also derived to obtain more precise estimates.