Summit Investment Advisors Inc. Acquires 3,336 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Summit Investment Advisors Inc. boosted its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 21.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 18,708 shares of the company’s stock after purchasing an additional 3,336 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Clearwater Analytics were worth $515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock valued at $35,000 after buying an additional 468 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Clearwater Analytics during the fourth quarter valued at about $57,000. R Squared Ltd purchased a new position in Clearwater Analytics during the fourth quarter worth about $80,000. Aster Capital Management DIFC Ltd bought a new stake in Clearwater Analytics in the 4th quarter worth about $82,000. Finally, Nisa Investment Advisors LLC increased its stake in Clearwater Analytics by 174.1% in 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 last quarter. 50.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated 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 transaction, the chief executive officer now owns 615,855 shares in the company, valued at approximately $17,016,073.65. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Tuesday, February 18th. The stock was sold at an average price of $27.33, for a total value of $511,071.00. Following the transaction, the chief financial officer now owns 274,857 shares in the company, valued at approximately $7,511,841.81. The trade was a 6.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 644,510 shares of company stock valued at $18,478,363 over the last quarter. 4.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CWAN shares. Morgan Stanley restated an “overweight” rating and issued a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Royal Bank of Canada upped their price objective on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. DA Davidson upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and reduced their price target for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Finally, UBS Group lifted their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a “buy” rating in a research report 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.80.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $23.04 on Friday. The business has a 50-day simple moving average of $26.81 and a 200 day simple moving average of $27.75. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 8.23 and a beta of 0.76. 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 released its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The firm had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. On average, research 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.