Y Intercept Hong Kong Ltd Purchases New Stake in Clearwater Analytics Holdings, Inc. $CWAN

Y Intercept Hong Kong Ltd purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 183,536 shares of the company’s stock, valued at approximately $4,025,000.

Several other hedge funds have also bought and sold shares of CWAN. Vanguard Group Inc. grew its position in Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after purchasing an additional 2,366,715 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in Clearwater Analytics in the 1st quarter valued at $56,648,000. Nuveen LLC acquired a new stake in Clearwater Analytics in the 1st quarter valued at $53,894,000. Riverbridge Partners LLC acquired a new stake in Clearwater Analytics in the 2nd quarter valued at $35,313,000. Finally, Invesco Ltd. grew its position in Clearwater Analytics by 34.1% in the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock valued at $152,930,000 after purchasing an additional 1,452,474 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Insider Activity at Clearwater Analytics

In other news, insider Subi Sethi sold 7,434 shares of Clearwater Analytics stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $131,433.12. Following the sale, the insider directly owned 226,980 shares in the company, valued at $4,013,006.40. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $17.98, for a total value of $202,724.50. Following the sale, the chief financial officer owned 338,983 shares in the company, valued at $6,094,914.34. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 143,602 shares of company stock worth $2,756,283. 3.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

CWAN has been the subject of several research reports. Zacks Research raised shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Weiss Ratings upgraded Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. DA Davidson dropped their price objective on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. The Goldman Sachs Group upgraded Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, August 11th. Finally, Wall Street Zen cut Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Clearwater Analytics Trading Up 0.4%

NYSE CWAN opened at $19.21 on Wednesday. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 5.24 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a one year low of $17.15 and a one year high of $35.71. 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’s fifty day moving average is $19.03 and its 200-day moving average is $21.03.

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

Clearwater Analytics announced that its Board of Directors has authorized a stock repurchase program on Wednesday, September 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.