Voloridge Investment Management LLC Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Voloridge Investment Management LLC purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,058,268 shares of the company’s stock, valued at approximately $29,124,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CWAN. Arcadia Investment Management Corp MI purchased a new stake in Clearwater Analytics in the 4th quarter valued at $57,000. R Squared Ltd purchased a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $80,000. Aster Capital Management DIFC Ltd acquired a new stake in Clearwater Analytics during the fourth quarter worth about $82,000. Nisa Investment Advisors LLC raised its stake in Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after purchasing an additional 1,987 shares during the period. Finally, OFI Invest Asset Management acquired a new position in Clearwater Analytics in the 4th quarter valued at about $88,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

CWAN opened at $22.41 on Thursday. The stock’s 50-day moving average price is $24.08 and its 200 day moving average price is $27.26. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.63 and a 12-month high of $35.71. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 8.23 and a beta of 0.79. 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 (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $126.86 million for the quarter, compared to analysts’ expectations of $125.11 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. As a group, sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Clearwater Analytics news, Director Kathleen A. Corbet sold 12,634 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total transaction of $298,920.44. Following the sale, the director now owns 14,498 shares in the company, valued at $343,022.68. This represents a 46.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sandeep Sahai sold 50,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $24.29, for a total value of $1,214,500.00. Following the completion of the sale, the chief executive officer now directly owns 876,754 shares in the company, valued at $21,296,354.66. This represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,175 shares of company stock worth $5,040,744 in the last ninety days. 3.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CWAN has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Clearwater Analytics in a report on Monday. They set a “neutral” rating and a $26.00 price target for the company. Morgan Stanley reissued an “overweight” rating and set a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Piper Sandler decreased their price target on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. started coverage on Clearwater Analytics in a report on Friday, April 25th. They set an “overweight” rating and a $28.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.40.

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.