California Public Employees Retirement System Trims Stock Holdings in Clarivate Plc (NYSE:CLVT)

California Public Employees Retirement System lessened its position in shares of Clarivate Plc (NYSE:CLVT – Get Rating) by 12.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 881,892 shares of the company’s stock after selling 122,907 shares during the period. California Public Employees Retirement System owned approximately 0.13% of Clarivate worth $7,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of Clarivate by 5.6% during the 1st quarter. US Bancorp DE now owns 14,343 shares of the company’s stock valued at $240,000 after buying an additional 765 shares in the last quarter. CWM LLC grew its position in Clarivate by 31.0% during the fourth quarter. CWM LLC now owns 4,853 shares of the company’s stock valued at $40,000 after acquiring an additional 1,148 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Clarivate by 0.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 234,023 shares of the company’s stock worth $1,952,000 after acquiring an additional 1,264 shares in the last quarter. Pictet Asset Management SA lifted its holdings in shares of Clarivate by 1.4% in the 3rd quarter. Pictet Asset Management SA now owns 112,805 shares of the company’s stock worth $1,059,000 after acquiring an additional 1,573 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Clarivate by 0.8% during the 3rd quarter. Alliancebernstein L.P. now owns 215,181 shares of the company’s stock valued at $2,021,000 after acquiring an additional 1,605 shares during the period. Institutional investors own 87.34% of the company’s stock.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $7.60 on Wednesday. The company has a market cap of $5.14 billion, a P/E ratio of -1.25, a P/E/G ratio of 0.97 and a beta of 1.07. Clarivate Plc has a 52-week low of $7.39 and a 52-week high of $15.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s fifty day moving average is $9.01 and its two-hundred day moving average is $9.59.

Clarivate (NYSE:CLVT – Get Rating) last released its quarterly earnings results on Wednesday, March 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The business had revenue of $675.30 million during the quarter, compared to analysts’ expectations of $651.42 million. Clarivate had a positive return on equity of 7.20% and a negative net margin of 148.89%. As a group, analysts anticipate that Clarivate Plc will post 0.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on CLVT shares. Royal Bank of Canada restated an “outperform” rating and issued a $14.00 price objective on shares of Clarivate in a report on Monday, April 17th. Morgan Stanley lowered shares of Clarivate from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $11.00 to $12.00 in a report on Monday, February 6th. Wells Fargo & Company increased their price objective on shares of Clarivate from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, March 2nd. Finally, Bank of America started coverage on Clarivate in a report on Wednesday, March 15th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.88.

About Clarivate

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Clarivate Plc engages in the provision of global information, analytics, and workflow solutions. It operates through the following segments: Academia and Government (A&G), Life Sciences and Healthcare (LS&H), and Intellectual Property (IP). The A&G segment consists of products and services to organizations that plan, fund, implement, and utilize education and research at a global, national, institutional, and individual level.