DiNuzzo Private Wealth Inc. Purchases Shares of 57,000 Clearwater Analytics Holdings, Inc. $CWAN

DiNuzzo Private Wealth Inc. acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 57,000 shares of the company’s stock, valued at approximately $1,250,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nvwm LLC acquired a new stake in Clearwater Analytics during the 1st quarter worth about $46,000. Quarry LP raised its holdings in Clearwater Analytics by 979.4% during the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock worth $56,000 after buying an additional 1,900 shares during the period. CWM LLC raised its holdings in Clearwater Analytics by 714.6% during the 1st quarter. CWM LLC now owns 3,071 shares of the company’s stock worth $82,000 after buying an additional 2,694 shares during the period. Portside Wealth Group LLC acquired a new stake in Clearwater Analytics during the 1st quarter worth about $206,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Clearwater Analytics during the 1st quarter worth about $208,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CWAN. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an “overweight” rating in a report on Tuesday, June 24th. Oppenheimer dropped their target price on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Wednesday, June 11th. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, August 11th. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Finally, DA Davidson dropped their target price on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.67.

Clearwater Analytics Trading Up 0.8%

NYSE:CWAN opened at $18.23 on Tuesday. The stock’s 50 day moving average price is $19.85 and its 200 day moving average price is $22.08. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.78 and a 52 week high of $35.71. The company has a market capitalization of $5.33 billion, a P/E ratio of 11.46, a P/E/G ratio of 4.58 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company’s quarterly revenue was up 70.4% on a year-over-year basis. On average, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics announced that its Board of Directors has initiated a share repurchase program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $22.15, for a total value of $1,107,500.00. Following the transaction, the chief executive officer owned 895,663 shares in the company, valued at approximately $19,838,935.45. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Souvik Das sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the chief technology officer owned 132,549 shares in the company, valued at $2,650,980. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,950 shares of company stock worth $3,799,302. Insiders own 3.31% of the company’s stock.

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.