Great Lakes Advisors LLC Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Great Lakes Advisors LLC acquired a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the fourth quarter, Holdings Channel.com reports. The firm acquired 307,875 shares of the company’s stock, valued at approximately $8,473,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HighTower Advisors LLC lifted its stake in shares of Clearwater Analytics by 937.9% in the 4th quarter. HighTower Advisors LLC now owns 97,559 shares of the company’s stock valued at $2,685,000 after purchasing an additional 88,159 shares during the period. Clare Market Investments LLC acquired a new position in Clearwater Analytics during the 4th quarter worth approximately $413,000. AlphaQuest LLC raised its stake in Clearwater Analytics by 700.5% during the 4th quarter. AlphaQuest LLC now owns 15,097 shares of the company’s stock worth $415,000 after buying an additional 13,211 shares during the period. OFI Invest Asset Management acquired a new position in Clearwater Analytics during the 4th quarter worth approximately $88,000. Finally, Marco Investment Management LLC acquired a new position in Clearwater Analytics during the 4th quarter worth approximately $208,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Clearwater Analytics 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 transaction of $554,455.00. Following the completion of the transaction, the chief financial officer now directly owns 214,044 shares of the company’s stock, valued at approximately $6,346,404.60. This represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Scott Stanley Erickson sold 76,256 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $2,293,017.92. Following the transaction, the executive now directly owns 78,363 shares of the company’s stock, valued at approximately $2,356,375.41. This trade represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 594,510 shares of company stock valued at $17,418,271 over the last three months. Corporate insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

CWAN has been the topic of a number of research reports. Oppenheimer upped their price target on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. UBS Group upped their price target on Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Piper Sandler raised Clearwater Analytics from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. Finally, Royal Bank of Canada upped their price target on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. One research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Stock Performance

Shares of CWAN opened at $27.56 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The stock has a 50 day moving average price of $28.35 and a two-hundred day moving average price of $27.69. The firm has a market capitalization of $6.92 billion, a P/E ratio of 16.60, a P/E/G ratio of 8.23 and a beta of 0.69. 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 released its earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). The business had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics Company 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.