Allianz Asset Management GmbH Purchases 390,031 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Allianz Asset Management GmbH grew its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 61.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,020,427 shares of the company’s stock after purchasing an additional 390,031 shares during the quarter. Allianz Asset Management GmbH’s holdings in Clearwater Analytics were worth $22,378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CWAN. Zevenbergen Capital Investments LLC raised its holdings in shares of Clearwater Analytics by 48.6% in the first quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company’s stock valued at $24,373,000 after buying an additional 297,414 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Clearwater Analytics in the 1st quarter valued at about $314,000. Riverbridge Partners LLC bought a new stake in shares of Clearwater Analytics in the 2nd quarter valued at about $35,313,000. Vanguard Group Inc. increased its stake in shares of Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Finally, Yorktown Management & Research Co Inc bought a new stake in shares of Clearwater Analytics in the 1st quarter valued at about $409,000. Institutional investors own 50.10% of the company’s stock.

Insider Transactions at Clearwater Analytics

In other news, CEO Sandeep Sahai sold 46,962 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $20.12, for a total transaction of $944,875.44. Following the sale, the chief executive officer owned 895,663 shares in the company, valued at $18,020,739.56. This represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James S. Cox sold 11,275 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 338,964 shares in the company, valued at approximately $6,613,187.64. This represents a 3.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,602 shares of company stock worth $2,756,283. Insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CWAN shares. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. DA Davidson decreased their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Clearwater Analytics in a research report on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Finally, Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the company an “overweight” rating in a research report on Tuesday, June 24th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Clearwater Analytics Trading Down 0.9%

NYSE:CWAN opened at $17.99 on Monday. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.15 and a twelve month high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $19.07 and a two-hundred day moving average price of $21.22. The company has a market cap of $5.26 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 4.79 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share 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 for the quarter, compared to analyst estimates of $174.16 million. During the same period last year, the company earned $0.10 EPS. The company’s revenue was up 70.4% compared to the same quarter last year. As a group, analysts expect 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 outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.