Teacher Retirement System of Texas Purchases Shares of 80,493 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Teacher Retirement System of Texas acquired a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the fourth quarter, HoldingsChannel reports. The fund acquired 80,493 shares of the company’s stock, valued at approximately $2,215,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Wasatch Advisors LP increased its position in shares of Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after buying an additional 559,564 shares during the period. State Street Corp boosted its position in shares of Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after purchasing an additional 1,009,548 shares in the last quarter. Geode Capital Management LLC grew its stake in Clearwater Analytics by 5.7% in the third quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock worth $88,710,000 after purchasing an additional 187,881 shares during the period. Wellington Management Group LLP raised its holdings in Clearwater Analytics by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,003,930 shares of the company’s stock worth $75,849,000 after purchasing an additional 281,958 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in Clearwater Analytics by 8.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,700,705 shares of the company’s stock valued at $46,803,000 after buying an additional 127,205 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CWAN. Oppenheimer upped their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $35.00 to $32.00 in a research note on Tuesday, January 14th. Royal Bank of Canada upped their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Finally, Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Monday, January 13th. The shares were sold at an average price of $25.89, for a total value of $1,294,500.00. Following the completion of the transaction, the chief executive officer now directly owns 615,855 shares of the company’s stock, valued at $15,944,485.95. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Subi Sethi sold 62,482 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the sale, the insider now owns 144,973 shares in the company, valued at $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock valued at $18,688,862 in the last 90 days. Insiders own 4.60% of the company’s stock.

Clearwater Analytics Trading Down 1.2 %

Shares of NYSE:CWAN opened at $27.27 on Thursday. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a market cap of $6.85 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. The stock has a 50 day moving average of $28.31 and a 200 day moving average of $27.87. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business had revenue of $126.47 million for the quarter, compared to the consensus estimate of $120.34 million. As a group, equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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.