Conestoga Capital Advisors LLC Sells 28,025 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Conestoga Capital Advisors LLC reduced its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,722,552 shares of the company’s stock after selling 28,025 shares during the period. Clearwater Analytics comprises approximately 2.7% of Conestoga Capital Advisors LLC’s holdings, making the stock its 9th biggest holding. Conestoga Capital Advisors LLC owned 2.68% of Clearwater Analytics worth $180,164,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR purchased a new position in shares of Clearwater Analytics during the 4th quarter worth about $220,000. Rhumbline Advisers increased its position in Clearwater Analytics by 20.2% during the fourth quarter. Rhumbline Advisers now owns 235,647 shares of the company’s stock worth $6,485,000 after purchasing an additional 39,559 shares during the last quarter. Principal Financial Group Inc. increased its position in Clearwater Analytics by 1,600.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock worth $39,690,000 after purchasing an additional 1,357,425 shares during the last quarter. Truist Financial Corp raised its stake in Clearwater Analytics by 5.8% during the fourth quarter. Truist Financial Corp now owns 21,915 shares of the company’s stock worth $603,000 after purchasing an additional 1,209 shares during the period. Finally, TimesSquare Capital Management LLC raised its stake in Clearwater Analytics by 8.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,700,705 shares of the company’s stock worth $46,803,000 after purchasing an additional 127,205 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN opened at $22.15 on Tuesday. The business’s 50-day simple moving average is $23.04 and its 200 day simple moving average is $26.24. The company has a market cap of $6.28 billion, a P/E ratio of 13.35, a PEG ratio of 8.23 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics Holdings, Inc. has a one year low of $17.63 and a one year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. On average, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other news, Director Kathleen A. Corbet sold 12,634 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the sale, the director now owns 14,498 shares in the company, valued at approximately $343,022.68. This represents a 46.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $23.09, for a total value of $1,154,500.00. Following the completion of the transaction, the chief executive officer now owns 876,754 shares of the company’s stock, valued at $20,244,249.86. This trade represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,334 shares of company stock valued at $4,213,699. 3.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CWAN. Morgan Stanley reissued an “overweight” rating and set a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Wells Fargo & Company lowered their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Piper Sandler cut their price objective on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Oppenheimer reduced their price objective on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 11th. Finally, Royal Bank of Canada increased their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

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.