Toth Financial Advisory Corp Invests $604,000 in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Toth Financial Advisory Corp acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 22,520 shares of the company’s stock, valued at approximately $604,000.

Other hedge funds also recently bought and sold shares of the company. Arcadia Investment Management Corp MI purchased a new position in Clearwater Analytics during the 4th quarter valued at about $57,000. Aster Capital Management DIFC Ltd purchased a new position in Clearwater Analytics during the 4th quarter valued at about $82,000. OFI Invest Asset Management purchased a new position in Clearwater Analytics during the 4th quarter valued at about $88,000. Assetmark Inc. purchased a new position in Clearwater Analytics during the 4th quarter valued at about $111,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Clearwater Analytics during the 4th quarter valued at about $116,000. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

Shares of CWAN opened at $24.20 on Tuesday. The firm has a market cap of $6.86 billion, a PE ratio of 14.58, a P/E/G ratio of 8.23 and a beta of 0.77. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $23.05 and a two-hundred day simple moving average of $26.54. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.63 and a 1-year high of $35.71.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $126.86 million during the quarter, compared to analyst estimates of $125.11 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, equities analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on CWAN. Piper Sandler cut their price objective on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. The Goldman Sachs Group assumed coverage on Clearwater Analytics in a research report on Monday, May 19th. They issued a “neutral” rating and a $26.00 price objective on the stock. Finally, UBS Group upped their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.40.

Insider Buying and Selling at Clearwater Analytics

In other news, Director Kathleen A. Corbet sold 12,634 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the completion of the sale, the director now directly owns 14,498 shares in the company, valued at $343,022.68. This represents a 46.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $26.56, for a total value of $1,328,000.00. Following the completion of the sale, the chief executive officer now owns 857,798 shares of the company’s stock, valued at $22,783,114.88. This trade represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,034 shares of company stock worth $4,926,245. Insiders own 3.31% of the company’s stock.

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.