State of New Jersey Common Pension Fund D Buys 9,130 Shares of Clearwater Analytics Holdings, Inc. $CWAN

State of New Jersey Common Pension Fund D boosted its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,916 shares of the company’s stock after acquiring an additional 9,130 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Clearwater Analytics were worth $1,862,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Stephens Investment Management Group LLC boosted its holdings in Clearwater Analytics by 32.9% in the second quarter. Stephens Investment Management Group LLC now owns 2,286,507 shares of the company’s stock valued at $50,143,000 after acquiring an additional 566,264 shares in the last quarter. Stephens Inc. AR bought a new stake in shares of Clearwater Analytics during the 2nd quarter valued at $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Clearwater Analytics during the 2nd quarter valued at $831,000. Cannon Global Investment Management LLC bought a new stake in shares of Clearwater Analytics during the 2nd quarter valued at $219,000. Finally, Huntleigh Advisors Inc. boosted its holdings in shares of Clearwater Analytics by 5.7% during the 2nd quarter. Huntleigh Advisors Inc. now owns 34,062 shares of the company’s stock valued at $747,000 after buying an additional 1,851 shares in the last quarter. Institutional investors own 50.10% of the company’s stock.

Insiders Place Their Bets

In other Clearwater Analytics news, CEO Sandeep Sahai sold 46,962 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $20.12, for a total value of $944,875.44. Following the completion of the transaction, the chief executive officer 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Subi Sethi sold 7,434 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total value of $131,433.12. Following the completion of the transaction, the insider directly owned 226,980 shares of the company’s stock, valued at approximately $4,013,006.40. This trade represents a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 143,602 shares of company stock worth $2,756,283 in the last 90 days. Corporate insiders own 3.31% of the company’s stock.

Clearwater Analytics Stock Performance

Shares of Clearwater Analytics stock opened at $18.45 on Friday. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 5.04 and a beta of 0.69. The firm’s 50-day moving average is $18.93 and its 200 day moving average is $20.92. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.15 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.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly 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). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm 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 firm earned $0.10 EPS. The business’s revenue for the quarter was up 70.4% on a year-over-year basis. Sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has authorized a share buyback program on Wednesday, September 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

CWAN has been the topic of a number of research reports. Wall Street Zen cut shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. DA Davidson dropped their target price 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. Weiss Ratings upgraded shares of Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, August 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $36.00 target price on shares of Clearwater Analytics in a report on Wednesday, September 17th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.