Bank of New York Mellon Corp Grows Stock Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Bank of New York Mellon Corp grew its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 46.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040,188 shares of the company’s stock after acquiring an additional 328,542 shares during the quarter. Bank of New York Mellon Corp owned about 0.42% of Clearwater Analytics worth $28,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wasatch Advisors LP lifted its position in Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after buying an additional 559,564 shares in the last quarter. State Street Corp lifted its position in Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after buying an additional 1,009,548 shares in the last quarter. Geode Capital Management LLC lifted its position in Clearwater Analytics by 5.7% during the third quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company’s stock worth $88,710,000 after buying an additional 187,881 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Clearwater Analytics by 11.1% during the third quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company’s stock worth $83,186,000 after buying an additional 327,880 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Clearwater Analytics by 10.4% during the third quarter. Wellington Management Group LLP now owns 3,003,930 shares of the company’s stock worth $75,849,000 after buying an additional 281,958 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Trading Down 1.8 %

Shares of Clearwater Analytics stock opened at $28.76 on Friday. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The firm has a market cap of $7.10 billion, a PE ratio of 17.32, a P/E/G ratio of 8.23 and a beta of 0.69. The business’s fifty day moving average is $28.35 and its two-hundred day moving average is $27.63. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

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

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $29.65, for a total value of $554,455.00. Following the completion of the sale, the chief financial officer now directly owns 214,044 shares in the company, valued at approximately $6,346,404.60. This represents a 8.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 139,172 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $28.94, for a total value of $4,027,637.68. Following the sale, the chief executive officer now owns 441,724 shares of the company’s stock, valued at $12,783,492.56. This represents a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 733,431 shares of company stock worth $21,444,493. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CWAN. Royal Bank of Canada lifted their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company raised their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Piper Sandler raised 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 research note on Thursday, February 20th. Oppenheimer raised their target price on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.80.

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.