CHICAGO TRUST Co NA Grows Stock Holdings in Clearwater Analytics Holdings, Inc. $CWAN

CHICAGO TRUST Co NA lifted its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 79.3% during the second quarter, Holdings Channel reports. The institutional investor owned 24,155 shares of the company’s stock after purchasing an additional 10,680 shares during the period. CHICAGO TRUST Co NA’s holdings in Clearwater Analytics were worth $530,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CWAN. Cetera Investment Advisers increased its holdings in Clearwater Analytics by 60.7% in the 4th quarter. Cetera Investment Advisers now owns 14,243 shares of the company’s stock valued at $392,000 after acquiring an additional 5,379 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Clearwater Analytics by 64.3% in the 4th quarter. Squarepoint Ops LLC now owns 58,807 shares of the company’s stock valued at $1,618,000 after acquiring an additional 23,007 shares during the last quarter. Woodline Partners LP bought a new stake in Clearwater Analytics in the 4th quarter valued at $315,000. Wolverine Trading LLC bought a new stake in Clearwater Analytics in the 4th quarter valued at $614,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Clearwater Analytics by 57.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 452,466 shares of the company’s stock valued at $12,452,000 after acquiring an additional 164,603 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analyst Ratings Changes

CWAN has been the topic of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Clearwater Analytics in a report on Wednesday, September 17th. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, August 11th. Oppenheimer reduced their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, June 11th. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the stock an “overweight” rating in a report on Tuesday, June 24th. Finally, Zacks Research upgraded shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average target price of $32.67.

Clearwater Analytics Stock Performance

Clearwater Analytics stock opened at $18.16 on Wednesday. The company’s 50-day moving average price is $20.13 and its 200-day moving average price is $22.37. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.86 and a twelve month high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.31 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 4.70 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business’s revenue for the quarter was up 70.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the transaction, the chief executive officer directly owned 895,663 shares in the company, valued at approximately $19,838,935.45. This represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Subi Sethi sold 7,358 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $159,447.86. Following the transaction, the insider owned 218,788 shares in the company, valued at $4,741,135.96. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,323 shares of company stock valued at $4,652,514. 3.31% of the stock is currently owned by company insiders.

About Clearwater Analytics

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.