Rhumbline Advisers Has $7.94 Million Stake in Clearwater Analytics Holdings, Inc. $CWAN

Rhumbline Advisers boosted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 39.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 361,861 shares of the company’s stock after buying an additional 102,570 shares during the period. Rhumbline Advisers’ holdings in Clearwater Analytics were worth $7,936,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its stake in Clearwater Analytics by 278.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock valued at $33,000 after acquiring an additional 1,121 shares in the last quarter. Bessemer Group Inc. grew its position in Clearwater Analytics by 84.6% during the second quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after buying an additional 708 shares during the period. Quarry LP grew its position in Clearwater Analytics by 979.4% during the first quarter. Quarry LP now owns 2,094 shares of the company’s stock valued at $56,000 after buying an additional 1,900 shares during the period. Nisa Investment Advisors LLC increased its holdings in Clearwater Analytics by 36.7% during the second quarter. Nisa Investment Advisors LLC now owns 4,288 shares of the company’s stock worth $94,000 after buying an additional 1,151 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in Clearwater Analytics in the second quarter worth about $108,000. Institutional investors own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Wall Street Zen downgraded Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Wells Fargo & Company reduced their price objective on Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Finally, UBS Group dropped their price target on Clearwater Analytics from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.56.

Clearwater Analytics Stock Down 1.1%

Clearwater Analytics stock opened at $21.06 on Wednesday. The firm has a 50 day simple moving average of $18.89 and a 200 day simple moving average of $20.39. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.42. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.73 and a 1-year high of $32.00. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 5.60 and a beta of 0.67.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $205.11 million during the quarter, compared to the consensus estimate of $203.66 million. Clearwater Analytics had a return on equity of 2.77% and a net margin of 61.28%.Clearwater Analytics’s revenue was up 77.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. On average, analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its board has approved a share repurchase plan on Wednesday, September 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 1.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Clearwater Analytics news, insider Subi Sethi sold 7,434 shares of Clearwater Analytics stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $131,433.12. Following the completion of the transaction, the insider owned 226,980 shares of the company’s stock, valued at $4,013,006.40. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James S. Cox sold 29,700 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $22.00, for a total transaction of $653,400.00. Following the completion of the sale, the chief financial officer directly owned 333,983 shares in the company, valued at approximately $7,347,626. The trade was a 8.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 113,302 shares of company stock worth $2,207,626 over the last quarter. Insiders own 3.31% of the company’s stock.

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.