Wellington Management Group LLP Boosts Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Wellington Management Group LLP raised its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,159,700 shares of the company’s stock after buying an additional 87,455 shares during the quarter. Wellington Management Group LLP owned about 0.89% of Clearwater Analytics worth $43,259,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CWAN. Occudo Quantitative Strategies LP bought a new stake in shares of Clearwater Analytics in the 4th quarter worth about $4,877,000. Osterweis Capital Management Inc. raised its position in Clearwater Analytics by 27.6% during the fourth quarter. Osterweis Capital Management Inc. now owns 533,110 shares of the company’s stock valued at $10,678,000 after purchasing an additional 115,225 shares during the period. Brown Capital Management LLC raised its position in Clearwater Analytics by 17.5% during the fourth quarter. Brown Capital Management LLC now owns 3,534,992 shares of the company’s stock valued at $70,806,000 after purchasing an additional 527,622 shares during the period. Wasatch Advisors LP lifted its stake in shares of Clearwater Analytics by 17.9% in the 4th quarter. Wasatch Advisors LP now owns 12,087,022 shares of the company’s stock valued at $242,103,000 after purchasing an additional 1,831,571 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in shares of Clearwater Analytics during the 4th quarter valued at approximately $14,021,000. Institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

CWAN opened at $19.00 on Monday. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of -237.50, a PEG ratio of 7.25 and a beta of 0.58. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.11. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.28 and a 12-month high of $21.89. The business’s fifty day simple moving average is $18.25 and its 200-day simple moving average is $18.50.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.25%. The company had revenue of $102.70 million for the quarter, compared to analysts’ expectations of $100.55 million. During the same period in the prior year, the business earned $0.07 EPS. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. On average, equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on CWAN shares. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Clearwater Analytics in a research note on Thursday, February 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $19.00 price target on shares of Clearwater Analytics in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company cut their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.70.

Insider Buying and Selling

In other Clearwater Analytics news, CFO James S. Cox sold 6,275 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.10, for a total transaction of $126,127.50. Following the sale, the chief financial officer now owns 235,962 shares of the company’s stock, valued at approximately $4,742,836.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Clearwater Analytics news, CFO James S. Cox sold 6,275 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.10, for a total transaction of $126,127.50. Following the completion of the sale, the chief financial officer now directly owns 235,962 shares of the company’s stock, valued at $4,742,836.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Stanley Erickson sold 118,204 shares of Clearwater Analytics stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $20.10, for a total transaction of $2,375,900.40. Following the completion of the transaction, the insider now directly owns 3,315 shares in the company, valued at approximately $66,631.50. The disclosure for this sale can be found here. Insiders sold 7,193,079 shares of company stock valued at $141,831,984 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

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.