Kayne Anderson Rudnick Investment Management LLC Has $210.66 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 1.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,374,673 shares of the company’s stock after acquiring an additional 128,402 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 4.63% of Clearwater Analytics worth $210,659,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CWAN. Blair William & Co. IL raised its position in shares of Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock valued at $786,000 after acquiring an additional 680 shares during the period. Arizona State Retirement System increased its stake in Clearwater Analytics by 2.1% in the second quarter. Arizona State Retirement System now owns 40,894 shares of the company’s stock valued at $757,000 after purchasing an additional 828 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock worth $30,000 after purchasing an additional 1,234 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after purchasing an additional 1,549 shares in the last quarter. Finally, RiverPark Advisors LLC grew its holdings in shares of Clearwater Analytics by 33.1% in the 2nd quarter. RiverPark Advisors LLC now owns 7,140 shares of the company’s stock valued at $132,000 after buying an additional 1,774 shares during the period. Institutional investors own 50.10% of the company’s stock.

Insider Transactions at Clearwater Analytics

In other news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $19.50, for a total value of $75,855.00. Following the completion of the transaction, the executive now owns 4,844 shares of the company’s stock, valued at approximately $94,458. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $19.50, for a total transaction of $75,855.00. Following the completion of the transaction, the executive now directly owns 4,844 shares in the company, valued at approximately $94,458. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction on Thursday, August 8th. The shares were 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. Insiders have sold a total of 10,897,118 shares of company stock worth $247,319,596 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $25.29 on Friday. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $25.81. The company’s fifty day simple moving average is $22.88 and its 200-day simple moving average is $19.64. The firm has a market cap of $6.21 billion, a PE ratio of -316.13, a P/E/G ratio of 8.54 and a beta of 0.61. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11.

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