Voya Investment Management LLC Cuts Stock Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Voya Investment Management LLC reduced its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 247,295 shares of the company’s stock after selling 1,293 shares during the quarter. Voya Investment Management LLC owned 0.09% of Clearwater Analytics worth $6,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in Clearwater Analytics by 10.0% during the 1st quarter. Rhumbline Advisers now owns 259,291 shares of the company’s stock valued at $6,949,000 after acquiring an additional 23,644 shares during the period. Strs Ohio purchased a new position in Clearwater Analytics in the 1st quarter worth approximately $1,369,000. Acadian Asset Management LLC bought a new stake in Clearwater Analytics in the first quarter valued at approximately $1,270,000. Intech Investment Management LLC lifted its position in Clearwater Analytics by 53.9% in the first quarter. Intech Investment Management LLC now owns 107,436 shares of the company’s stock valued at $2,879,000 after purchasing an additional 37,615 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Clearwater Analytics by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 459,292 shares of the company’s stock valued at $12,309,000 after purchasing an additional 6,826 shares during the period. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

Clearwater Analytics stock opened at $19.16 on Thursday. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.98 and a twelve month high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $5.60 billion, a P/E ratio of 12.05, a PEG ratio of 4.86 and a beta of 0.73. The stock’s 50 day moving average is $20.41 and its 200 day moving average is $22.73.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company had revenue of $181.94 million during the quarter, compared to the consensus estimate of $174.16 million. During the same period last year, the firm posted $0.10 earnings per share. The company’s revenue was up 70.4% compared to the same quarter last year. On average, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics announced that its board has approved a share repurchase program on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the sale, the chief financial officer owned 348,964 shares of the company’s stock, valued at approximately $7,851,690. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Subi Sethi sold 7,358 shares of the company’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $159,447.86. Following the completion of the sale, the insider owned 218,788 shares of the company’s stock, valued at approximately $4,741,135.96. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,323 shares of company stock valued at $4,652,514 over the last three months. 3.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CWAN shares. Oppenheimer decreased their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 11th. The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, August 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Clearwater Analytics in a research report on Wednesday. Zacks Research upgraded shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Finally, DA Davidson cut 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. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Clearwater Analytics currently 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.