New York State Common Retirement Fund Lowers Holdings in Clarivate Plc (NYSE:CLVT)

New York State Common Retirement Fund lowered its position in shares of Clarivate Plc (NYSE:CLVT) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,114,682 shares of the company’s stock after selling 31,162 shares during the period. New York State Common Retirement Fund owned about 0.32% of Clarivate worth $19,582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in Clarivate during the 3rd quarter valued at about $33,000. Forum Financial Management LP purchased a new position in Clarivate during the third quarter valued at approximately $81,000. Wedmont Private Capital bought a new position in Clarivate in the fourth quarter worth approximately $99,000. Simplicity Solutions LLC purchased a new stake in Clarivate during the third quarter worth $108,000. Finally, Headlands Technologies LLC bought a new stake in Clarivate during the 3rd quarter valued at $110,000. 85.72% of the stock is currently owned by institutional investors.

Clarivate Trading Up 1.7 %

NYSE CLVT opened at $7.12 on Friday. Clarivate Plc has a 12-month low of $6.07 and a 12-month high of $10.03. The company has a fifty day simple moving average of $7.41 and a two-hundred day simple moving average of $7.87. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock has a market cap of $4.76 billion, a P/E ratio of -4.81, a P/E/G ratio of 1.44 and a beta of 1.24.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The company had revenue of $683.70 million during the quarter, compared to analysts’ expectations of $687.80 million. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. On average, analysts forecast that Clarivate Plc will post 0.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CLVT shares. Morgan Stanley decreased their price objective on Clarivate from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Barclays lowered their price target on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, February 28th. Oppenheimer reduced their price objective on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada lowered their target price on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.