Clearbridge Investments LLC Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Clearbridge Investments LLC bought a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the fourth quarter, Holdings Channel reports. The firm bought 562,406 shares of the company’s stock, valued at approximately $15,477,000.

Other large investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in Clearwater Analytics by 18.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 75,155 shares of the company’s stock valued at $2,049,000 after acquiring an additional 11,450 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Clearwater Analytics by 6.3% during the fourth quarter. Schroder Investment Management Group now owns 25,662 shares of the company’s stock valued at $710,000 after purchasing an additional 1,517 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Clearwater Analytics during the fourth quarter worth about $25,752,000. Orion Portfolio Solutions LLC grew its position in Clearwater Analytics by 13.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 15,558 shares of the company’s stock worth $428,000 after purchasing an additional 1,847 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Clearwater Analytics by 180.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 74,541 shares of the company’s stock valued at $2,051,000 after buying an additional 47,949 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $26.72 on Thursday. The firm has a market capitalization of $6.71 billion, a P/E ratio of 16.10, a PEG ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The business has a fifty day moving average price of $28.17 and a 200-day moving average price of $27.97.

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

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $26.58, for a total value 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 approximately $9,528,983.16. This represents a 4.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the transaction, the chief executive officer now owns 615,855 shares in the company, valued at approximately $15,944,485.95. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock valued at $18,688,862 in the last three months. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CWAN. UBS Group upped their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a 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 stock from $28.00 to $36.00 in a research note on Thursday, February 20th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price target for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Morgan Stanley restated an “overweight” rating and set a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Finally, Wells Fargo & Company increased their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.80.

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.