American Century Companies Inc. Buys Shares of 69,396 Clearwater Analytics Holdings, Inc. $CWAN

American Century Companies Inc. bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 69,396 shares of the company’s stock, valued at approximately $1,860,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CWAN. Vanguard Group Inc. raised its position in Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after acquiring an additional 2,366,715 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Clearwater Analytics by 34.1% during the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock valued at $152,930,000 after buying an additional 1,452,474 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Clearwater Analytics by 44.4% during the first quarter. Blair William & Co. IL now owns 2,534,270 shares of the company’s stock valued at $67,918,000 after buying an additional 779,538 shares in the last quarter. Fred Alger Management LLC grew its stake in Clearwater Analytics by 16.9% in the fourth quarter. Fred Alger Management LLC now owns 2,469,228 shares of the company’s stock valued at $67,953,000 after purchasing an additional 357,086 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its stake in Clearwater Analytics by 13.8% in the fourth quarter. Driehaus Capital Management LLC now owns 2,214,452 shares of the company’s stock valued at $60,942,000 after purchasing an additional 268,601 shares in the last quarter. Institutional investors own 50.10% of the company’s stock.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $19.42, for a total value of $218,960.50. Following the completion of the sale, the chief financial officer directly owned 343,964 shares in the company, valued at approximately $6,679,780.88. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sandeep Sahai sold 46,962 shares of Clearwater Analytics stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $20.12, for a total transaction of $944,875.44. Following the completion of the sale, the chief executive officer owned 895,663 shares of the company’s stock, valued at approximately $18,020,739.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,748 shares of company stock worth $5,755,414 over the last quarter. Company insiders own 3.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CWAN shares. DA Davidson lowered their target price on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Monday, August 11th. Finally, Oppenheimer reduced their price target on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 11th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $32.67.

Clearwater Analytics Trading Up 0.6%

Clearwater Analytics stock opened at $20.66 on Tuesday. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. The stock has a market capitalization of $6.04 billion, a P/E ratio of 12.99, a PEG ratio of 4.86 and a beta of 0.73. The stock has a 50-day simple moving average of $20.96 and a 200 day simple moving average of $23.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 70.4% on a year-over-year basis. Analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

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.