Piper Sandler assumed coverage of CCC Intelligent Solutions (CCCS) with a Neutral rating and $10 price target The firm notes CCC is a SaaS company focused on the P&C insurance ecosystem, such as insurers, collision repair shops, auto manufacturers and parts suppliers streamlining claims processions, repair management and digital workflows that have been enhanced into lifecoland through recent M&A of EvolutionIQ that enhanced disability and injury claims management. While the areas of InsurTech in which the company operates is ripe for disruption, Piper is on the sidelines to reflect a fair valuation multiple at this time.
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