Raymond James Financial Inc. Invests $20.48 Million in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Raymond James Financial Inc. acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 744,270 shares of the company’s stock, valued at approximately $20,482,000. Raymond James Financial Inc. owned 0.30% of Clearwater Analytics at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after purchasing an additional 468 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Clearwater Analytics during the 4th quarter valued at about $57,000. R Squared Ltd purchased a new stake in shares of Clearwater Analytics during the 4th quarter valued at about $80,000. Nisa Investment Advisors LLC raised its holdings in shares of Clearwater Analytics by 174.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock valued at $86,000 after buying an additional 1,987 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Clearwater Analytics by 38.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock valued at $90,000 after buying an additional 995 shares during the period. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Clearwater Analytics Price Performance

Shares of CWAN opened at $26.88 on Monday. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 8.23 and a beta of 0.69. The stock has a 50 day moving average of $28.31 and a 200-day moving average of $27.75. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.07). The firm had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. As a group, analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

CWAN has been the topic of several analyst reports. DA Davidson upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their target price for the company from $35.00 to $32.00 in a report on Tuesday, January 14th. Morgan Stanley reiterated an “overweight” rating and set a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Royal Bank of Canada raised their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. UBS Group raised their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Clearwater Analytics has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $27.63, for a total value of $1,381,500.00. Following the sale, the chief executive officer now owns 615,855 shares of the company’s stock, valued at approximately $17,016,073.65. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total value of $503,778.00. Following the completion of the sale, the chief financial officer now directly owns 279,857 shares in the company, valued at approximately $7,539,347.58. This trade represents a 6.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 625,810 shares of company stock valued at $18,191,816. Insiders own 4.60% 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.