Sei Investments Co. Acquires 235,309 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Sei Investments Co. increased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 14.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,821,874 shares of the company’s stock after acquiring an additional 235,309 shares during the period. Sei Investments Co. owned about 0.74% of Clearwater Analytics worth $33,741,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CWAN. Canada Pension Plan Investment Board purchased a new stake in Clearwater Analytics in the second quarter worth $157,000. Public Employees Retirement Association of Colorado purchased a new position in Clearwater Analytics in the 2nd quarter worth about $277,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock valued at $81,000 after buying an additional 2,425 shares in the last quarter. Seven Eight Capital LP purchased a new stake in Clearwater Analytics in the 2nd quarter valued at about $1,797,000. Finally, Blair William & Co. IL grew its stake in Clearwater Analytics by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 42,436 shares of the company’s stock worth $786,000 after acquiring an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CWAN shares. Piper Sandler reiterated a “neutral” rating and issued a $23.00 price target on shares of Clearwater Analytics in a report on Monday, September 9th. Citigroup started 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. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Monday, July 8th. Royal Bank of Canada increased their target price on shares of Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company boosted 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.90.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $18.92, for a total transaction of $213,323.00. Following the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CTO Souvik Das sold 25,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $18.92, for a total value of $473,000.00. Following the completion of the transaction, the chief technology officer now directly owns 10,453 shares in the company, valued at $197,770.76. The disclosure for this sale can be found here. Insiders sold 10,897,118 shares of company stock valued at $247,319,596 in the last three months. 2.10% of the stock is owned by insiders.

Clearwater Analytics Trading Up 1.5 %

NYSE:CWAN opened at $25.66 on Tuesday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of -320.75, a PEG ratio of 8.54 and a beta of 0.61. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $25.81. 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 50 day moving average of $23.01 and a 200 day moving average of $19.74.

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

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.