Clearwater Analytics Holdings, Inc. $CWAN Shares Bought by Connable Office Inc.

Connable Office Inc. increased its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 61.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,852 shares of the company’s stock after purchasing an additional 4,909 shares during the quarter. Connable Office Inc.’s holdings in Clearwater Analytics were worth $282,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Zevenbergen Capital Investments LLC increased its stake in Clearwater Analytics by 48.6% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company’s stock worth $24,373,000 after buying an additional 297,414 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Clearwater Analytics during the 1st quarter worth approximately $314,000. Riverbridge Partners LLC purchased a new stake in Clearwater Analytics during the 2nd quarter worth approximately $35,313,000. Vanguard Group Inc. grew its position in shares of Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after purchasing an additional 2,366,715 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of Clearwater Analytics by 25.8% in the first quarter. LPL Financial LLC now owns 115,179 shares of the company’s stock valued at $2,888,000 after purchasing an additional 23,630 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Trading Down 1.4%

Shares of Clearwater Analytics stock opened at $18.15 on Tuesday. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 5.04 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $35.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The stock has a 50 day moving average of $18.88 and a 200 day moving average of $20.87.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $181.94 million during the quarter, compared to analysts’ expectations of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company’s revenue 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. As a group, research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its board has approved a share repurchase program 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 programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CTO Souvik Das sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the chief technology officer directly owned 132,549 shares in the company, valued at $2,650,980. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James S. Cox sold 11,275 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.51, for a total value of $219,975.25. Following the transaction, the chief financial officer owned 338,964 shares in the company, valued at $6,613,187.64. This trade represents a 3.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 143,602 shares of company stock valued at $2,756,283 over the last three months. 3.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Wall Street Zen lowered Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings upgraded Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Finally, The Goldman Sachs Group upgraded 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. Nine 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 an average rating of “Moderate Buy” and an average target price of $32.67.

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.