William Blair Investment Management LLC Acquires 66,528 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

William Blair Investment Management LLC boosted its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,430,794 shares of the company’s stock after purchasing an additional 66,528 shares during the period. William Blair Investment Management LLC’s holdings in Clearwater Analytics were worth $193,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CWAN. Truist Financial Corp bought a new position in Clearwater Analytics during the fourth quarter worth $390,000. Victory Capital Management Inc. acquired a new stake in Clearwater Analytics in the 4th quarter worth $288,000. Swiss National Bank increased its holdings in shares of Clearwater Analytics by 37.3% during the 4th quarter. Swiss National Bank now owns 237,500 shares of the company’s stock worth $4,757,000 after purchasing an additional 64,500 shares during the period. Natixis Advisors L.P. raised its position in shares of Clearwater Analytics by 1.4% during the fourth quarter. Natixis Advisors L.P. now owns 44,198 shares of the company’s stock valued at $885,000 after buying an additional 616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Clearwater Analytics by 46.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,887 shares of the company’s stock valued at $14,019,000 after buying an additional 221,492 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the transaction, the executive now owns 4,844 shares of the company’s stock, valued at approximately $115,045. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Clearwater Analytics news, CTO Souvik Das sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $18.92, for a total value of $473,000.00. Following the completion of the sale, the chief technology officer now owns 10,453 shares of the company’s stock, valued at $197,770.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total transaction of $92,387.50. Following the completion of the sale, the executive now owns 4,844 shares of the company’s stock, valued at approximately $115,045. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,878,418 shares of company stock valued at $246,862,568. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CWAN. Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Monday, July 8th. Citigroup assumed coverage on Clearwater Analytics in a research report on Monday, August 19th. They issued a “buy” rating and a $28.00 target price for the company. Piper Sandler reissued a “neutral” rating and issued a $23.00 price target on shares of Clearwater Analytics in a report on Monday, September 9th. Finally, Wells Fargo & Company raised their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.30.

Clearwater Analytics Trading Up 2.8 %

Shares of CWAN opened at $24.01 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. The company has a market cap of $5.91 billion, a price-to-earnings ratio of -300.13, a PEG ratio of 8.54 and a beta of 0.61. The stock has a fifty day moving average price of $22.14 and a two-hundred day moving average price of $19.38. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $24.93.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $106.79 million during the quarter, compared to the consensus estimate of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. Analysts predict that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current fiscal year.

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.