Creative Planning Lowers Position in Clearwater Analytics Holdings, Inc. $CWAN

Creative Planning trimmed its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 53.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,910 shares of the company’s stock after selling 24,861 shares during the quarter. Creative Planning’s holdings in Clearwater Analytics were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Clearwater Analytics by 11.3% during the 1st 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. Wellington Management Group LLP lifted its position in Clearwater Analytics by 7.7% during the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock valued at $171,866,000 after purchasing an additional 458,444 shares during the last quarter. Geode Capital Management LLC grew its stake in Clearwater Analytics by 22.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,737,241 shares of the company’s stock worth $125,833,000 after buying an additional 1,060,435 shares in the last quarter. Invesco Ltd. increased 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 buying an additional 1,452,474 shares during the last quarter. Finally, Blair William & Co. IL raised its position in shares of Clearwater Analytics by 53.4% during the 2nd quarter. Blair William & Co. IL now owns 3,888,661 shares of the company’s stock valued at $85,278,000 after buying an additional 1,354,391 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Trading Down 0.1%

NYSE CWAN opened at $21.71 on Friday. The firm has a market cap of $6.35 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 5.72 and a beta of 0.67. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.73 and a 1-year high of $32.00. The stock has a 50-day moving average of $19.10 and a 200-day moving average of $20.39. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.42.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $205.11 million during the quarter, compared to analysts’ expectations of $203.66 million. Clearwater Analytics had a return on equity of 2.77% and a net margin of 61.28%.Clearwater Analytics’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. As a group, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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

Analyst Ratings Changes

Several brokerages recently issued reports on CWAN. Wells Fargo & Company cut their target price on shares of Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Clearwater Analytics in a report on Wednesday, September 17th. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Monday, August 11th. Finally, UBS Group reduced their price target on shares of Clearwater Analytics from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.56.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 29,700 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $22.00, for a total value of $653,400.00. Following the transaction, the chief financial officer owned 333,983 shares in the company, valued at approximately $7,347,626. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 4,505 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $79,648.40. Following the sale, the executive owned 19,552 shares of the company’s stock, valued at approximately $345,679.36. This represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,302 shares of company stock worth $2,207,626 over the last ninety days. Insiders own 3.31% of the company’s stock.

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.