Clearbridge Investments LLC Makes New Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Clearbridge Investments LLC purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 562,406 shares of the company’s stock, valued at approximately $15,477,000. Clearbridge Investments LLC owned approximately 0.23% of Clearwater Analytics at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after acquiring an additional 468 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in Clearwater Analytics in the fourth quarter valued at about $57,000. R Squared Ltd bought a new stake in Clearwater Analytics during the fourth quarter worth about $80,000. Nisa Investment Advisors LLC grew its stake in Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after buying an additional 1,987 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in Clearwater Analytics in the 4th quarter valued at about $88,000. 50.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CWAN. UBS Group increased their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their price target on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company upped their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Finally, Morgan Stanley restated an “overweight” rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Stock Up 2.0 %

NYSE:CWAN opened at $26.72 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $35.71. The firm’s 50 day simple moving average is $28.17 and its 200 day simple moving average is $27.97. The company has a market cap of $6.71 billion, a PE ratio of 16.10, a P/E/G ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. On average, research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $26.58, for a total transaction of $497,046.00. Following the completion of the sale, the chief financial officer now owns 358,502 shares of the company’s stock, valued at $9,528,983.16. This trade represents a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Subi Sethi sold 62,482 shares of Clearwater Analytics stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the sale, the insider now owns 144,973 shares of the company’s stock, valued at $4,359,338.11. This represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock valued at $18,688,862 over the last ninety days. 4.60% of the stock is owned by company insiders.

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.