Intech Investment Management LLC Has $2.88 Million Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Intech Investment Management LLC lifted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 53.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,436 shares of the company’s stock after purchasing an additional 37,615 shares during the period. Intech Investment Management LLC’s holdings in Clearwater Analytics were worth $2,879,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Zevenbergen Capital Investments LLC increased its stake in Clearwater Analytics by 48.6% in the first quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company’s stock valued at $24,373,000 after purchasing an additional 297,414 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Clearwater Analytics in the 1st quarter worth about $314,000. Vanguard Group Inc. raised its holdings in shares of Clearwater Analytics by 11.3% in the 1st 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 during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of Clearwater Analytics in the 1st quarter worth about $409,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Clearwater Analytics in the 4th quarter worth about $8,580,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $19.61 on Monday. The stock has a market capitalization of $5.73 billion, a P/E ratio of 12.33, a PEG ratio of 4.96 and a beta of 0.73. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $20.60 and its 200 day moving average is $22.87. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business’s quarterly revenue was up 70.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its board has approved a stock buyback plan on Wednesday, September 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 46,962 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 895,663 shares in the company, valued at approximately $18,020,739.56. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Souvik Das sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $20.57, for a total value of $205,700.00. Following the completion of the sale, the chief technology officer directly owned 121,549 shares of the company’s stock, valued at approximately $2,500,262.93. This represents a 7.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,048 shares of company stock worth $4,432,539 in the last three months. 3.31% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on CWAN. The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, August 11th. Zacks Research raised shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the company an “overweight” rating in a research report on Tuesday, June 24th. DA Davidson reduced their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Finally, Oppenheimer reduced their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research report on Wednesday, June 11th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.67.

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.