EFG Asset Management North America Corp. Makes New $1.60 Million Investment in Clearwater Analytics Holdings, Inc. $CWAN

EFG Asset Management North America Corp. bought a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 1st quarter, HoldingsChannel.com reports. The fund bought 59,570 shares of the company’s stock, valued at approximately $1,596,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nvwm LLC acquired a new stake in Clearwater Analytics during the first quarter worth $46,000. Quarry LP increased its stake in Clearwater Analytics by 979.4% during the first quarter. Quarry LP now owns 2,094 shares of the company’s stock worth $56,000 after acquiring an additional 1,900 shares during the last quarter. CWM LLC increased its stake in Clearwater Analytics by 714.6% during the first quarter. CWM LLC now owns 3,071 shares of the company’s stock worth $82,000 after acquiring an additional 2,694 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in Clearwater Analytics during the first quarter worth $206,000. Finally, Norden Group LLC acquired a new stake in Clearwater Analytics during the first quarter worth $232,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CWAN. DA Davidson dropped their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the company an “overweight” rating in a research note on Tuesday, June 24th. Oppenheimer dropped their price objective on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, June 11th. Finally, The Goldman Sachs Group raised Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $32.67.

Clearwater Analytics Trading Down 0.2%

CWAN opened at $20.16 on Friday. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 4.75 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The business has a fifty day moving average price of $20.84 and a 200 day moving average price of $23.35.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 70.4% compared to the same quarter last year. Sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics announced that its Board of Directors has initiated a share buyback program on Wednesday, September 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the sale, the chief financial officer directly owned 348,964 shares of the company’s stock, valued at $7,851,690. The trade was a 5.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $22.15, for a total value of $1,107,500.00. Following the sale, the chief executive officer directly owned 895,663 shares of the company’s stock, valued at $19,838,935.45. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 266,748 shares of company stock valued at $5,755,414. Company 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.