Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 39.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 809,924 shares of the company’s stock after acquiring an additional 229,524 shares during the quarter. Bank of America Corp DE owned about 0.33% of Clearwater Analytics worth $22,289,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company’s stock worth $574,607,000 after purchasing an additional 2,455,844 shares during the period. Alliancebernstein L.P. boosted its holdings in Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company’s stock worth $202,931,000 after buying an additional 2,931,445 shares in the last quarter. Wellington Management Group LLP grew its position in Clearwater Analytics by 98.2% during the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company’s stock worth $163,867,000 after buying an additional 2,950,555 shares during the period. JPMorgan Chase & Co. increased its holdings in Clearwater Analytics by 52.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company’s stock valued at $126,972,000 after buying an additional 1,585,869 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Clearwater Analytics by 9.0% in the fourth quarter. Invesco Ltd. now owns 4,253,863 shares of the company’s stock valued at $117,066,000 after buying an additional 352,201 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Insider Buying and Selling

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the completion of the sale, the chief executive officer now owns 876,754 shares in the company, valued at $21,296,354.66. The trade was a 5.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $27.33, for a total transaction of $511,071.00. Following the transaction, the chief financial officer now directly owns 274,857 shares of the company’s stock, valued at approximately $7,511,841.81. This represents a 6.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 644,510 shares of company stock worth $18,311,363. 3.31% of the stock is owned by insiders.

Analyst Ratings Changes

CWAN has been the topic of several research analyst reports. UBS Group boosted their price target on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company decreased their target price on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley restated an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Piper Sandler cut their price target on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Clearwater Analytics Stock Down 0.9%

Shares of NYSE:CWAN opened at $23.81 on Monday. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $6.74 billion, a P/E ratio of 14.34, a P/E/G ratio of 8.23 and a beta of 0.79. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.63 and a 52-week high of $35.71. The stock’s fifty day simple moving average is $24.31 and its 200-day simple moving average is $27.34.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. As a group, equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

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.