Clearwater Analytics Holdings, Inc. $CWAN Stock Position Raised by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 42.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,522 shares of the company’s stock after purchasing an additional 42,248 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Clearwater Analytics were worth $3,104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CWAN. Vanguard Group Inc. raised its holdings in Clearwater Analytics by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after buying an additional 2,366,715 shares during the period. Wellington Management Group LLP increased its position in shares of Clearwater Analytics by 7.7% in the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock worth $171,866,000 after acquiring an additional 458,444 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Clearwater Analytics by 34.1% during the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock valued at $152,930,000 after acquiring an additional 1,452,474 shares during the period. Blair William & Co. IL lifted its position in shares of Clearwater Analytics by 53.4% in the 2nd quarter. Blair William & Co. IL now owns 3,888,661 shares of the company’s stock valued at $85,278,000 after acquiring an additional 1,354,391 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Clearwater Analytics by 23.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,742,511 shares of the company’s stock worth $73,499,000 after purchasing an additional 528,059 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Stock Up 0.4%

Shares of Clearwater Analytics stock opened at $19.21 on Wednesday. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 5.24 and a beta of 0.69. The stock has a 50-day simple moving average of $19.03 and a 200-day simple moving average of $21.03. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.15 and a 52-week high of $35.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick 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). The firm had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company’s quarterly revenue was up 70.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 EPS. On average, equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has approved a share buyback plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Clearwater Analytics

In related news, CTO Souvik Das sold 10,000 shares of Clearwater Analytics stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the chief technology officer owned 132,549 shares of the company’s stock, valued at approximately $2,650,980. The trade was a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James S. Cox sold 11,275 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.51, for a total transaction of $219,975.25. Following the completion of the sale, the chief financial officer owned 338,964 shares of the company’s stock, valued at $6,613,187.64. This represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 143,602 shares of company stock worth $2,756,283 over the last quarter. Company insiders own 3.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CWAN shares. Wall Street Zen lowered Clearwater Analytics from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Weiss Ratings upgraded Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Clearwater Analytics in a research note on Wednesday, September 17th. Finally, The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, August 11th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.67.

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.