Associated Banc Corp Makes New $283,000 Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Associated Banc Corp acquired a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,204 shares of the company’s stock, valued at approximately $283,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Clearwater Analytics by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after purchasing an additional 2,219,459 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Clearwater Analytics by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock valued at $210,659,000 after acquiring an additional 128,402 shares during the period. William Blair Investment Management LLC increased its holdings in Clearwater Analytics by 0.6% in the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock worth $193,178,000 after acquiring an additional 66,528 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Clearwater Analytics by 1.6% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after acquiring an additional 107,210 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in Clearwater Analytics by 11.1% during the third quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock valued at $83,186,000 after purchasing an additional 327,880 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors.

Clearwater Analytics Price Performance

Shares of Clearwater Analytics stock opened at $32.21 on Wednesday. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 3,224.22, a price-to-earnings-growth ratio of 11.41 and a beta of 0.61. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The stock has a 50 day moving average price of $27.31 and a 200-day moving average price of $23.11. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $35.71.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CWAN. JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $33.00 in a research report on Thursday, November 7th. Piper Sandler upped their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their target price on Clearwater Analytics from $23.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their target price on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, DA Davidson downgraded Clearwater Analytics from a “buy” rating to a “neutral” rating and lifted their target price for the company from $31.00 to $35.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Hold” and a consensus target price of $31.11.

Insider Transactions at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $30.34, for a total transaction of $567,358.00. Following the completion of the sale, the chief financial officer now directly owns 219,044 shares of the company’s stock, valued at approximately $6,645,794.96. This trade represents a 7.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the sale, the executive now directly owns 4,844 shares of the company’s stock, valued at $115,045. This represents a 44.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,770 shares of company stock worth $1,826,606. 4.60% of the stock is currently owned by company insiders.

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.