KLP Kapitalforvaltning AS Increases Stock Holdings in Clearwater Analytics Holdings, Inc. $CWAN

KLP Kapitalforvaltning AS lifted its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 18.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,776 shares of the company’s stock after purchasing an additional 7,476 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Clearwater Analytics were worth $1,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Clearwater Analytics by 11.3% during the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Clearwater Analytics in the 1st quarter worth approximately $56,648,000. Nuveen LLC acquired a new position in shares of Clearwater Analytics in the 1st quarter worth approximately $53,894,000. Riverbridge Partners LLC acquired a new position in shares of Clearwater Analytics in the 2nd quarter worth approximately $35,313,000. Finally, Invesco Ltd. lifted its holdings in shares of Clearwater Analytics by 34.1% in the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock worth $152,930,000 after acquiring an additional 1,452,474 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Insider Buying and Selling at Clearwater Analytics

In related news, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.51, for a total value of $219,975.25. Following the transaction, the chief financial officer directly owned 338,964 shares in the company, valued at $6,613,187.64. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Subi Sethi sold 7,434 shares of Clearwater Analytics stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $131,433.12. Following the completion of the transaction, the insider owned 226,980 shares in the company, valued at approximately $4,013,006.40. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,327 shares of company stock valued at $2,553,559. 3.31% of the stock is owned by company insiders.

Clearwater Analytics Stock Performance

Shares of CWAN opened at $17.94 on Wednesday. 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 has a market cap of $5.25 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 4.51 and a beta of 0.69. The company’s 50 day simple moving average is $19.16 and its 200-day simple moving average is $21.43. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.15 and a 12-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 (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 return on equity of 3.23% and a net margin of 73.74%.The business’s revenue was up 70.4% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. As a group, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics declared that its board has authorized a share repurchase plan on Wednesday, September 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CWAN has been the topic of several recent analyst reports. Zacks Research upgraded shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. DA Davidson decreased their price objective on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. 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 research report on Monday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Analytics in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.