Strs Ohio Takes $1.37 Million Position in Clearwater Analytics Holdings, Inc. $CWAN

Strs Ohio bought a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 51,100 shares of the company’s stock, valued at approximately $1,369,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Nvwm LLC purchased a new stake in shares of Clearwater Analytics in the 1st quarter valued at $46,000. Quarry LP grew its position in Clearwater Analytics by 979.4% during the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock valued at $56,000 after purchasing an additional 1,900 shares during the last quarter. CWM LLC increased its holdings in shares of Clearwater Analytics by 714.6% in the 1st quarter. CWM LLC now owns 3,071 shares of the company’s stock worth $82,000 after purchasing an additional 2,694 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in shares of Clearwater Analytics during the 1st quarter valued at about $206,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Clearwater Analytics during the 1st quarter valued at about $208,000. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN opened at $19.16 on Thursday. The firm has a market capitalization of $5.60 billion, a PE ratio of 12.05, a P/E/G ratio of 4.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The business has a 50-day moving average of $20.41 and a two-hundred day moving average of $22.73. 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 posted its earnings results 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). The company had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. Clearwater Analytics’s quarterly revenue was up 70.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. As a group, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

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

Insider Transactions at Clearwater Analytics

In other news, CTO Souvik Das sold 10,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $20.57, for a total transaction of $205,700.00. Following the sale, the chief technology officer directly owned 121,549 shares in the company, valued at approximately $2,500,262.93. This represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 46,962 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $20.12, for a total value of $944,875.44. Following the transaction, the chief executive officer directly 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. In the last ninety days, insiders have sold 219,323 shares of company stock worth $4,652,514. 3.31% of the stock is currently owned by company 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.