Argent Trust Co Sells 2,535 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Argent Trust Co lessened its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 14.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,862 shares of the company’s stock after selling 2,535 shares during the period. Argent Trust Co’s holdings in Clearwater Analytics were worth $275,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CWAN. Victory Capital Management Inc. bought a new position in shares of Clearwater Analytics during the fourth quarter valued at $288,000. Charles Schwab Investment Management Inc. raised its holdings in Clearwater Analytics by 46.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,887 shares of the company’s stock worth $14,019,000 after buying an additional 221,492 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Clearwater Analytics by 280.5% in the fourth quarter. Principal Financial Group Inc. now owns 397,941 shares of the company’s stock worth $7,971,000 after buying an additional 293,366 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Clearwater Analytics in the fourth quarter worth approximately $272,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Clearwater Analytics by 109.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,192,215 shares of the company’s stock valued at $23,880,000 after buying an additional 622,365 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup started coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a report on Monday, September 9th. Royal Bank of Canada lifted their price objective on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Oppenheimer upgraded shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research note on Monday, July 8th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

Clearwater Analytics Price Performance

NYSE CWAN opened at $25.29 on Friday. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $6.21 billion, a P/E ratio of -316.13, a PEG ratio of 8.54 and a beta of 0.61. The company has a 50-day moving average price of $22.88 and a 200-day moving average price of $19.64. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $25.81.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $106.79 million for the quarter, compared to the consensus estimate of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. Equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Clearwater Analytics

In other news, Director Warburg Pincus Llc sold 9,000,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $22.41, for a total value of $201,690,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction on Monday, July 15th. The shares were sold at an average price of $18.92, for a total transaction of $213,323.00. Following the transaction, the chief financial officer now owns 232,503 shares in the company, valued at approximately $4,398,956.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total value of $201,690,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,897,118 shares of company stock valued at $247,319,596. Company 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.