Wasatch Advisors LP Boosts Stock Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Wasatch Advisors LP lifted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 35.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,391,308 shares of the company’s stock after buying an additional 4,304,286 shares during the quarter. Clearwater Analytics makes up approximately 1.5% of Wasatch Advisors LP’s investment portfolio, making the stock its 18th largest position. Wasatch Advisors LP owned approximately 6.70% of Clearwater Analytics worth $289,962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Clearwater Analytics by 65.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after acquiring an additional 1,335,802 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Clearwater Analytics by 46.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,887 shares of the company’s stock valued at $14,019,000 after purchasing an additional 221,492 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Clearwater Analytics by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock valued at $182,780,000 after purchasing an additional 1,148,338 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Clearwater Analytics in the 3rd quarter valued at $2,551,000. Finally, Swiss National Bank boosted its stake in Clearwater Analytics by 37.3% during the 4th quarter. Swiss National Bank now owns 237,500 shares of the company’s stock worth $4,757,000 after purchasing an additional 64,500 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CWAN. JPMorgan Chase & Co. decreased their price target on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Morgan Stanley restated an “equal weight” rating and set a $19.00 target price on shares of Clearwater Analytics in a report on Thursday, May 2nd. Finally, Wells Fargo & Company cut their price target on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Clearwater Analytics has a consensus rating of “Moderate Buy” and a consensus price target of $21.70.

Clearwater Analytics Trading Down 0.5 %

CWAN stock traded down $0.10 during midday trading on Tuesday, hitting $18.24. 1,147,423 shares of the company’s stock were exchanged, compared to its average volume of 1,438,408. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.28 and a 1-year high of $21.89. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $4.48 billion, a PE ratio of -228.00, a P/E/G ratio of 7.23 and a beta of 0.57. The business has a 50-day simple moving average of $18.55 and a two-hundred day simple moving average of $18.46.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The firm had revenue of $102.70 million during the quarter, compared to the consensus estimate of $100.55 million. During the same period last year, the company earned $0.07 EPS. The company’s quarterly revenue was up 21.4% on a year-over-year basis. On average, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity

In related news, Director Warburg Pincus Llc sold 7,000,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $19.71, for a total transaction of $137,970,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Warburg Pincus Llc sold 7,000,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total transaction of $137,970,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Subi Sethi sold 18,599 shares of Clearwater Analytics stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the completion of the transaction, the insider now directly owns 77,519 shares of the company’s stock, valued at $1,508,519.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,193,079 shares of company stock valued at $141,831,984. Company insiders own 2.10% of the company’s stock.

Clearwater Analytics Company Profile

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.