Clearwater Analytics Holdings, Inc. $CWAN Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC increased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 44.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,875 shares of the company’s stock after buying an additional 8,570 shares during the period. Park Avenue Securities LLC’s holdings in Clearwater Analytics were worth $611,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nvwm LLC acquired a new position in shares of Clearwater Analytics in the first quarter valued at approximately $46,000. Quarry LP increased its position in Clearwater Analytics by 979.4% during the first quarter. Quarry LP now owns 2,094 shares of the company’s stock worth $56,000 after purchasing an additional 1,900 shares during the last quarter. CWM LLC increased its position in Clearwater Analytics by 714.6% during the first quarter. CWM LLC now owns 3,071 shares of the company’s stock worth $82,000 after purchasing an additional 2,694 shares during the last quarter. Portside Wealth Group LLC acquired a new position in Clearwater Analytics during the first quarter worth approximately $206,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Clearwater Analytics during the first quarter worth approximately $208,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

Shares of CWAN stock opened at $18.09 on Monday. The company has a market capitalization of $5.29 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 4.58 and a beta of 0.73. The firm has a fifty day simple moving average of $19.91 and a 200-day simple moving average of $22.14. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.78 and a twelve month high of $35.71.

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

Clearwater Analytics declared that its board has approved a share buyback plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total transaction of $420,750.00. Following the transaction, the chief financial officer directly owned 348,964 shares in the company, valued at $7,851,690. This represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the transaction, the chief executive officer owned 895,663 shares in the company, valued at $19,838,935.45. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,950 shares of company stock worth $3,799,302 in the last ninety days. 3.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CWAN. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Zacks Research raised shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Oppenheimer dropped their price objective 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. Finally, 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. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

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.