Corton Capital Inc. Invests $322,000 in Clearwater Analytics Holdings, Inc. $CWAN

Corton Capital Inc. acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,695 shares of the company’s stock, valued at approximately $322,000.

Several other large investors have also recently made changes to their positions in the business. Apollon Wealth Management LLC increased its position in shares of Clearwater Analytics by 3.9% during the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company’s stock valued at $331,000 after acquiring an additional 459 shares in the last quarter. Redwood Investments LLC lifted its stake in shares of Clearwater Analytics by 0.8% during the 1st quarter. Redwood Investments LLC now owns 74,651 shares of the company’s stock valued at $2,001,000 after buying an additional 608 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Clearwater Analytics by 84.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after buying an additional 708 shares in the last quarter. Cerity Partners LLC lifted its stake in Clearwater Analytics by 7.3% in the 1st quarter. Cerity Partners LLC now owns 11,598 shares of the company’s stock worth $311,000 after purchasing an additional 793 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its stake in Clearwater Analytics by 2.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 41,300 shares of the company’s stock worth $1,107,000 after purchasing an additional 900 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. Zacks Research raised shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, August 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Finally, Wall Street Zen cut shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.67.

Insider Transactions at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 4,505 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $79,648.40. Following the sale, the executive owned 19,552 shares in the company, valued at $345,679.36. This represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James S. Cox sold 11,275 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $17.98, for a total transaction of $202,724.50. Following the completion of the sale, the chief financial officer owned 338,983 shares in the company, valued at $6,094,914.34. The trade was a 3.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 143,602 shares of company stock valued at $2,756,283. 3.31% of the stock is owned by corporate insiders.

Clearwater Analytics Trading Up 1.4%

Shares of Clearwater Analytics stock opened at $18.45 on Monday. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.15 and a 12-month high of $35.71. The firm has a market capitalization 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 simple moving average is $18.93 and its two-hundred day simple moving average is $20.91.

Clearwater Analytics (NYSE:CWAN) last issued 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). The company had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The company’s revenue for the quarter was up 70.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. Analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its board has authorized a share buyback program on Wednesday, September 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.