BUZZ-CCC Intelligent falls after secondary offering
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Shares of CCC Intelligent Solutionsfell 2.5% to $9.73 following the announcement of a secondary offering of 30 million shares by Advent International, priced at $9.89 each. This offering, which generated gross proceeds of $296.7 million, was at a 0.8% discount to the stock's last close. Despite the decline, 10 out of 13 brokerages rate the stock as "buy" or higher, with a median price target of $12.50. Year-to-date, CCCS stock is down 15%.
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