Public Employees Retirement System of Ohio Lowers Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Public Employees Retirement System of Ohio lessened its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,053 shares of the company’s stock after selling 7,881 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Clearwater Analytics were worth $2,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Nvwm LLC purchased a new position in Clearwater Analytics in the 1st quarter worth about $46,000. Quarry LP raised its position in Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock worth $56,000 after buying an additional 1,900 shares during the last quarter. CWM LLC raised its position in 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 buying an additional 2,694 shares during the last quarter. Portside Wealth Group LLC purchased a new position in Clearwater Analytics in the 1st quarter worth about $206,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Clearwater Analytics in the 1st quarter worth about $208,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analyst Ratings Changes

CWAN has been the subject of a number of recent analyst reports. Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. 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. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an “overweight” rating in a research report 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 price target for the company in a research report on Monday, August 11th. Finally, DA Davidson cut their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Insiders Place Their Bets

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total value of $420,750.00. Following the completion of 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 document filed with the SEC, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $22.15, for a total value of $1,107,500.00. Following the completion of the transaction, the chief executive officer owned 895,663 shares of the company’s stock, valued at $19,838,935.45. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,727 shares of company stock valued at $4,502,559. 3.31% of the stock is owned by company insiders.

Clearwater Analytics Trading Down 1.5%

CWAN stock opened at $17.76 on Thursday. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.61 and a 1-year high of $35.71. 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 company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 4.56 and a beta of 0.69. The business has a 50 day simple moving average of $19.71 and a two-hundred day simple moving average of $22.03.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly 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 return on equity of 3.23% and a net margin of 73.74%.The business had revenue of $181.94 million during the quarter, compared to the consensus estimate of $174.16 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 70.4% compared to the same quarter last year. Research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.