Algert Global LLC Grows Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Algert Global LLC raised its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,081 shares of the company’s stock after buying an additional 21,401 shares during the period. Algert Global LLC owned 0.05% of Clearwater Analytics worth $2,483,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Wasatch Advisors LP grew its holdings in shares of Clearwater Analytics by 35.6% in the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after acquiring an additional 4,304,286 shares in the last quarter. Vanguard Group Inc. boosted its position in Clearwater Analytics by 17.2% in the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after purchasing an additional 2,219,459 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Clearwater Analytics by 1.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock valued at $210,659,000 after purchasing an additional 128,402 shares during the period. William Blair Investment Management LLC increased its position in shares of Clearwater Analytics by 0.6% during the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock valued at $193,178,000 after purchasing an additional 66,528 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Clearwater Analytics by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company’s stock worth $123,551,000 after purchasing an additional 165,000 shares during the period. Institutional investors own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CWAN shares. Royal Bank of Canada increased their price target on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Piper Sandler restated a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research note on Monday, September 9th. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Monday, July 8th. Wells Fargo & Company raised their target price on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Citigroup assumed coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.78.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $24.99 on Wednesday. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $26.02. The business’s fifty day moving average is $23.58 and its 200 day moving average is $20.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of -312.38, a PEG ratio of 9.30 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The firm 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 revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. Research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current year.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $24.44, for a total value of $457,028.00. Following the sale, the chief financial officer now owns 227,503 shares in the company, valued at $5,560,173.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.75, for a total value of $92,387.50. Following the completion of the transaction, the executive now owns 4,844 shares of the company’s stock, valued at approximately $115,045. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $24.44, for a total transaction of $457,028.00. Following the sale, the chief financial officer now owns 227,503 shares in the company, valued at approximately $5,560,173.32. The disclosure for this sale can be found here. Insiders sold 10,897,118 shares of company stock worth $247,319,596 in the last three months. Corporate insiders own 2.10% of the company’s stock.

About Clearwater Analytics

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.