Hardy Reed LLC Buys New Position in Clearwater Analytics Holdings, Inc. $CWAN

Hardy Reed LLC purchased a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,464 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Clearwater Analytics by 2,644.7% during the first quarter. GAMMA Investing LLC now owns 35,242 shares of the company’s stock worth $944,000 after buying an additional 33,958 shares during the last quarter. Rhumbline Advisers raised its position in shares of Clearwater Analytics by 10.0% in the 1st quarter. Rhumbline Advisers now owns 259,291 shares of the company’s stock worth $6,949,000 after acquiring an additional 23,644 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of Clearwater Analytics by 53.8% in the 1st quarter. Park Avenue Securities LLC now owns 19,305 shares of the company’s stock valued at $517,000 after purchasing an additional 6,757 shares during the period. Toth Financial Advisory Corp bought a new stake in shares of Clearwater Analytics during the 1st quarter valued at about $604,000. Finally, Portside Wealth Group LLC acquired a new stake in Clearwater Analytics during the first quarter worth approximately $206,000. 50.10% of the stock is owned by institutional investors.

Clearwater Analytics Price Performance

Shares of NYSE CWAN opened at $17.53 on Tuesday. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 4.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $35.71. The firm’s 50-day simple moving average is $19.49 and its 200 day simple moving average is $21.77.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $181.94 million during the quarter, compared to analysts’ expectations of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The business’s revenue for the quarter was up 70.4% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. As a group, research analysts anticipate 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 approved a share buyback program on Wednesday, September 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 1.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

CWAN has been the topic of several recent analyst reports. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the company an “overweight” rating in a research note on Tuesday, June 24th. Zacks Research raised shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Clearwater Analytics in a research note on Saturday, September 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Clearwater Analytics in a report on Wednesday, September 17th. Finally, Oppenheimer reduced their target price 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. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics currently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 5,919 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $104,647.92. Following the completion of the sale, the chief financial officer owned 343,983 shares in the company, valued at $6,081,619.44. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Souvik Das sold 5,327 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $94,181.36. Following the transaction, the chief technology officer owned 136,066 shares in the company, valued at approximately $2,405,646.88. This trade represents a 3.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,727 shares of company stock worth $4,502,559. 3.31% of the stock is owned by insiders.

Clearwater Analytics 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.