It is time to consider scooping up shares of a little-known software play, according to Morgan Stanley.
CCC is a software as a service provider specializing in the property-casualty insurance sector and working with insurers and collision repairers.
CCCS YTD mountain Shares this year "CCCS is a market share leader, positioned to capture value digitizing and automating the [property and casualty] Insurance industry," Baer wrote.
"Established solutions, ramping emerging solutions and AI help to sustain high-single-digit growth."
CCC's shares have also underperformed those of its vertical software peers, offering an attractive valuation discount and entry point relative to competitors, the analyst noted.
Persons:
Morgan Stanley, Josh Baer, Baer
Organizations:
CCC, Services, Insurance