Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,511 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 13.3% in the fourth quarter, Holdings Channel reports. The firm owned 21,424 shares of the company’s stock after acquiring an additional 2,511 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Clearwater Analytics were worth $429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Clearwater Analytics by 65.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock worth $67,860,000 after acquiring an additional 1,335,802 shares during the period. Vanguard Group Inc. grew its stake in shares of Clearwater Analytics by 13.8% in the third quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock worth $182,780,000 after acquiring an additional 1,148,338 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Clearwater Analytics in the third quarter worth approximately $2,551,000. Raymond James & Associates grew its stake in shares of Clearwater Analytics by 42.1% in the fourth quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock worth $12,439,000 after acquiring an additional 183,899 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of Clearwater Analytics in the third quarter worth approximately $2,022,000. 50.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CWAN. Piper Sandler reissued a “neutral” rating and issued a $20.00 price objective on shares of Clearwater Analytics in a report on Thursday, February 29th. Morgan Stanley reissued an “equal weight” rating and issued a $19.00 price objective on shares of Clearwater Analytics in a report on Thursday. Wells Fargo & Company dropped their price objective on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, DA Davidson reissued a “buy” rating and issued a $24.00 price objective on shares of Clearwater Analytics in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Clearwater Analytics presently has an average rating of “Moderate Buy” and a consensus price target of $21.70.

Clearwater Analytics Stock Performance

CWAN opened at $17.66 on Friday. The firm has a market cap of $4.32 billion, a P/E ratio of -220.75, a PEG ratio of 6.28 and a beta of 0.50. Clearwater Analytics Holdings, Inc. has a 1-year low of $13.02 and a 1-year high of $21.89. The company has a 50 day simple moving average of $17.01 and a two-hundred day simple moving average of $18.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.15 and a quick ratio of 5.15.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $102.70 million during the quarter, compared to analyst estimates of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.26%. The company’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. Equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $987,000.00. Following the sale, the chief executive officer now owns 270,838 shares of the company’s stock, valued at $5,346,342.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,310,000 shares of company stock worth $275,809,400. 2.10% of the stock is owned by insiders.

Clearwater Analytics 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.