Delphi Financial Group Inc. Takes Position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Delphi Financial Group Inc. bought a new position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 57,015 shares of the company's stock, valued at approximately $669,000. CCC Intelligent Solutions makes up 0.4% of Delphi Financial Group Inc.'s investment portfolio, making the stock its 20th largest position.

Other hedge funds have also bought and sold shares of the company. Stephens Inc. AR raised its stake in shares of CCC Intelligent Solutions by 47.1% in the third quarter. Stephens Inc. AR now owns 25,296 shares of the company's stock worth $280,000 after purchasing an additional 8,103 shares during the last quarter. New York State Common Retirement Fund raised its position in CCC Intelligent Solutions by 1.6% during the 3rd 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 last quarter. Chicago Partners Investment Group LLC raised its position in CCC Intelligent Solutions by 15.5% during the 3rd 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 last quarter. Janney Capital Management LLC acquired a new stake in CCC Intelligent Solutions during the 3rd quarter valued at approximately $321,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of CCC Intelligent Solutions by 67.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 340,397 shares of the company's stock valued at $3,761,000 after acquiring an additional 136,854 shares during the last quarter. Institutional investors and hedge funds own 95.79% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CCCS shares. JPMorgan Chase & Co. downgraded shares of CCC Intelligent Solutions from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $14.00 to $11.00 in a research report on Wednesday, February 26th. Barrington Research reissued an "outperform" rating and issued a $14.00 price objective on shares of CCC Intelligent Solutions in a report on Monday, February 24th. Morgan Stanley upgraded CCC Intelligent Solutions from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $14.00 to $15.00 in a research note on Wednesday, November 13th. Finally, Piper Sandler reiterated a "neutral" rating and set a $11.00 price target (down from $13.00) on shares of CCC Intelligent Solutions in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.38.

CCC Intelligent Solutions Trading Up 0.6 %

NYSE CCCS traded up $0.06 on Wednesday, reaching $9.72. 16,249,687 shares of the company were exchanged, compared to its average volume of 5,429,220. 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 business's fifty day moving average price is $11.06 and its 200 day moving average price is $11.22. The stock has a market capitalization of $6.38 billion, a P/E ratio of 486.24 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a fifty-two week low of $9.46 and a fifty-two week high of $12.88.

CCC Intelligent Solutions declared that its Board of Directors has approved a stock buyback plan on Friday, December 20th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Rodney Christo sold 20,077 shares of CCC Intelligent Solutions stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $10.20, for a total transaction of $204,785.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Crescenzo Neil E. De acquired 100,000 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director now directly owns 100,000 shares of the company's stock, valued at $1,216,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 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.