Delphi Financial Group Inc. Makes New $669,000 Investment in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Delphi Financial Group Inc. acquired a new position in shares of CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 57,015 shares of the company’s stock, valued at approximately $669,000. CCC Intelligent Solutions comprises approximately 0.4% of Delphi Financial Group Inc.’s investment portfolio, making the stock its 20th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Stephens Inc. AR boosted its stake in shares of CCC Intelligent Solutions by 47.1% during the third quarter. Stephens Inc. AR now owns 25,296 shares of the company’s stock worth $280,000 after buying an additional 8,103 shares during the period. New York State Common Retirement Fund boosted its stake in shares of CCC Intelligent Solutions by 1.6% during the third quarter. New York State Common Retirement Fund now owns 2,371,135 shares of the company’s stock worth $26,201,000 after buying an additional 36,867 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of CCC Intelligent Solutions by 15.5% during the third quarter. Chicago Partners Investment Group LLC now owns 14,596 shares of the company’s stock worth $162,000 after buying an additional 1,957 shares during the period. Janney Capital Management LLC acquired a new stake in shares of CCC Intelligent Solutions during the third quarter worth about $321,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of CCC Intelligent Solutions by 67.2% during the third quarter. Harbor Capital Advisors Inc. now owns 340,397 shares of the company’s stock worth $3,761,000 after buying an additional 136,854 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.

Insider Buying and Selling

In related news, Director Crescenzo Neil E. De bought 100,000 shares of CCC Intelligent Solutions stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at $1,216,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.67% of the company’s stock.

CCC Intelligent Solutions Price Performance

CCCS stock opened at $10.19 on Friday. The firm has a 50 day moving average of $11.14 and a 200-day moving average of $11.22. CCC Intelligent Solutions Holdings Inc. has a 12-month low of $9.79 and a 12-month high of $12.88. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 509.75 and a beta of 0.71.

CCC Intelligent Solutions announced that its board has initiated a share repurchase plan on Friday, December 20th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CCCS. Barrington Research restated an “outperform” rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Morgan Stanley upgraded shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $14.00 to $15.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $11.00 in a research report on Wednesday. Finally, Piper Sandler restated a “neutral” rating and issued a $11.00 price objective (down previously from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.38.

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.