California Public Employees Retirement System Has $7.23 Million Holdings in Clarivate Plc (NYSE:CLVT)

California Public Employees Retirement System raised its position in shares of Clarivate Plc (NYSE:CLVT) by 12.5% in the fourth quarter, HoldingsChannel reports. The fund owned 780,468 shares of the company’s stock after acquiring an additional 86,795 shares during the period. California Public Employees Retirement System’s holdings in Clarivate were worth $7,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in Clarivate in the 3rd quarter valued at $33,000. Wedmont Private Capital acquired a new stake in shares of Clarivate during the fourth quarter worth $99,000. Forum Financial Management LP acquired a new position in shares of Clarivate in the third quarter valued at about $81,000. Simplicity Solutions LLC bought a new position in Clarivate during the third quarter worth about $108,000. Finally, Headlands Technologies LLC acquired a new stake in Clarivate in the 3rd quarter worth about $110,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Performance

Clarivate stock opened at $6.85 on Friday. The stock has a market cap of $4.58 billion, a PE ratio of -4.63, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Clarivate Plc has a 12-month low of $6.07 and a 12-month high of $10.03. The business’s 50-day moving average price is $7.25 and its two-hundred day moving average price is $7.86.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business had revenue of $683.70 million during the quarter, compared to analysts’ expectations of $687.80 million. During the same period in the prior year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts expect that Clarivate Plc will post 0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley decreased their target price on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Oppenheimer lowered their price objective on Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Royal Bank of Canada cut their target price on Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Finally, Barclays dropped their price target on Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Clarivate has a consensus rating of “Hold” and a consensus target price of $8.00.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.