Why CCC Intelligent Solutions Holdings Topped the Market Today

CCC Intelligent Solutions (NASDAQ: CCCS), a next-generation insurance-services provider to the auto industry, is apparently in play. Following a media report that its majority owner is in talks to sell the company, CCC's share price vaulted nearly 4% higher on Monday. 

In an exclusive report published after market hours on Friday, Reuters wrote that said owner, private equity firm Advent International, is exploring a sale of CCC. Advent currently holds a 56% stake in the specialty insurance-services company.

Citing "people familiar with the matter," Reuters added that storied investment bank Morgan Stanley is advising CCC in its discussions with potential acquirers. The article did not identify any of these apparent suitors, but the sources did say that they include entities active in acquiring businesses.

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Source Fool.com