Teacher Retirement System of Texas Purchases 26,967 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Teacher Retirement System of Texas grew its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 25.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,816 shares of the company’s stock after acquiring an additional 26,967 shares during the quarter. Teacher Retirement System of Texas’ holdings in Clearwater Analytics were worth $2,913,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Clearwater Analytics during the 1st quarter worth approximately $314,000. Brown Advisory Inc. boosted its holdings in Clearwater Analytics by 15,661.6% in the 1st quarter. Brown Advisory Inc. now owns 1,407,040 shares of the company’s stock worth $37,709,000 after buying an additional 1,398,113 shares during the period. Cerity Partners LLC grew its position in shares of Clearwater Analytics by 7.3% in the first quarter. Cerity Partners LLC now owns 11,598 shares of the company’s stock valued at $311,000 after purchasing an additional 793 shares in the last quarter. Bosman Wealth Management LLC bought a new stake in shares of Clearwater Analytics during the first quarter valued at about $1,105,000. Finally, Xponance Inc. increased its holdings in Clearwater Analytics by 10.6% during the 1st quarter. Xponance Inc. now owns 14,085 shares of the company’s stock worth $377,000 after acquiring an additional 1,354 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Insider Buying and Selling

In other news, CTO Souvik Das sold 10,000 shares of Clearwater Analytics stock in a transaction dated 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 of the company’s stock, valued at $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 available through the SEC website. Also, insider Subi Sethi sold 7,434 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $131,433.12. Following the sale, the insider directly owned 226,980 shares in the company, valued at $4,013,006.40. This trade represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 143,602 shares of company stock worth $2,756,283 over the last three months. 3.31% of the stock is owned by corporate insiders.

Clearwater Analytics Trading Up 1.4%

NYSE:CWAN opened at $18.45 on Friday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 11.60, a PEG ratio of 5.04 and a beta of 0.69. 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 Holdings, Inc. has a one year low of $17.15 and a one year high of $35.71. The company’s 50-day simple moving average is $18.93 and its 200 day simple moving average is $20.92.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $174.16 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. Clearwater Analytics’s revenue for the quarter was up 70.4% on a year-over-year basis. As a group, analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CWAN. Zacks Research upgraded shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Royal Bank Of Canada restated an “outperform” rating and set a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. DA Davidson decreased their price objective on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Weiss Ratings raised Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. Finally, Wall Street Zen cut shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Clearwater Analytics Company 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.