Bamco Inc. NY Grows Position in Clearwater Analytics Holdings, Inc. $CWAN

Bamco Inc. NY grew its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 12.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,094,715 shares of the company’s stock after buying an additional 665,823 shares during the period. Bamco Inc. NY owned 2.15% of Clearwater Analytics worth $133,657,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in shares of Clearwater Analytics by 278.9% in the second quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock valued at $33,000 after acquiring an additional 1,121 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Clearwater Analytics by 84.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 708 shares during the last quarter. Quarry LP boosted its stake 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 buying an additional 1,900 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Clearwater Analytics by 36.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,288 shares of the company’s stock worth $94,000 after purchasing an additional 1,151 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Clearwater Analytics during the second quarter valued at approximately $108,000. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Down 0.2%

CWAN stock opened at $21.79 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 1.97. Clearwater Analytics Holdings, Inc. has a one year low of $15.73 and a one year high of $32.00. The firm’s fifty day moving average is $19.47 and its 200 day moving average is $20.36. The firm has a market cap of $6.38 billion, a PE ratio of 14.24, a P/E/G ratio of 5.75 and a beta of 0.67.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $205.11 million for 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%.The business’s revenue for the quarter was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 EPS. On average, research 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 authorized a stock buyback program 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 programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group cut their price target on shares of Clearwater Analytics from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. dropped their target price on Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Wall Street Zen cut shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Wells Fargo & Company dropped their target price on Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.56.

Insider Buying and Selling at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 16,592 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $293,346.56. Following the completion of the transaction, the chief executive officer owned 913,600 shares in the company, valued at $16,152,448. This represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Subi Sethi sold 7,434 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $131,433.12. Following the transaction, the insider directly owned 226,980 shares of the company’s stock, valued at $4,013,006.40. The trade was a 3.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 113,302 shares of company stock valued at $2,217,826. Corporate insiders own 3.31% of the company’s stock.

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.