Delphi Financial Group Inc. Purchases Shares of 57,015 CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Delphi Financial Group Inc. purchased a new stake in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 57,015 shares of the company’s stock, valued at approximately $669,000. CCC Intelligent Solutions comprises about 0.4% of Delphi Financial Group Inc.’s portfolio, making the stock its 20th largest position.

Several other institutional investors also recently bought and sold shares of CCCS. Wasatch Advisors LP increased its holdings in shares of CCC Intelligent Solutions by 49.1% during the 3rd quarter. Wasatch Advisors LP now owns 14,331,030 shares of the company’s stock worth $158,358,000 after buying an additional 4,716,587 shares during the last quarter. Adero Partners LLC increased its holdings in shares of CCC Intelligent Solutions by 118.5% during the 3rd quarter. Adero Partners LLC now owns 5,780,925 shares of the company’s stock worth $63,879,000 after buying an additional 3,135,650 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of CCC Intelligent Solutions by 29.0% during the 4th quarter. Conestoga Capital Advisors LLC now owns 12,261,035 shares of the company’s stock worth $143,822,000 after buying an additional 2,752,950 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of CCC Intelligent Solutions by 35.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,648,957 shares of the company’s stock worth $95,571,000 after buying an additional 2,272,336 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of CCC Intelligent Solutions by 32.2% during the 3rd quarter. State Street Corp now owns 7,446,518 shares of the company’s stock worth $82,284,000 after buying an additional 1,815,816 shares during the last quarter. 95.79% of the stock is currently owned by institutional investors and hedge funds.

CCC Intelligent Solutions Stock Performance

NYSE:CCCS opened at $10.19 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a 50-day moving average of $11.14 and a two-hundred day moving average of $11.22. The stock has a market cap of $6.69 billion, a P/E ratio of 509.75 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a 1-year low of $9.79 and a 1-year high of $12.88.

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

Insider Buying and Selling at CCC Intelligent Solutions

In related news, Director Crescenzo Neil E. De purchased 100,000 shares of CCC Intelligent Solutions stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $12.16 per share, with a total value of $1,216,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,216,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CCCS shares. Piper Sandler restated a “neutral” rating and set a $11.00 price objective (down from $13.00) on shares of CCC Intelligent Solutions in a report on Wednesday. JPMorgan Chase & Co. cut shares of CCC Intelligent Solutions from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $11.00 in a research report on Wednesday. Barrington Research reaffirmed an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research report on Monday, February 24th. Finally, Morgan Stanley raised shares of CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $15.00 in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

CCC Intelligent Solutions 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.