Chase Investment Counsel Corp Invests $5.73 Million in Clearwater Analytics Holdings, Inc. $CWAN

Chase Investment Counsel Corp acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 237,532 shares of the company’s stock, valued at approximately $5,729,000. Clearwater Analytics comprises about 1.6% of Chase Investment Counsel Corp’s portfolio, making the stock its 21st largest holding.

A number of other hedge funds also recently made changes to their positions in CWAN. Wellington Management Group LLP lifted its holdings in shares of Clearwater Analytics by 108.7% during the 3rd quarter. Wellington Management Group LLP now owns 17,793,701 shares of the company’s stock worth $320,642,000 after acquiring an additional 9,268,950 shares during the last quarter. Vanguard Group Inc. raised its position in Clearwater Analytics by 21.9% in the 3rd quarter. Vanguard Group Inc. now owns 33,261,349 shares of the company’s stock worth $599,370,000 after purchasing an additional 5,967,798 shares during the period. Blair William & Co. IL raised its position in Clearwater Analytics by 83.5% in the 3rd quarter. Blair William & Co. IL now owns 7,134,647 shares of the company’s stock worth $128,566,000 after purchasing an additional 3,245,986 shares during the period. UBS Group AG raised its position in Clearwater Analytics by 249.3% in the 3rd quarter. UBS Group AG now owns 4,297,683 shares of the company’s stock worth $77,444,000 after purchasing an additional 3,067,164 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in Clearwater Analytics in the 3rd quarter worth $44,884,000. 50.10% of the stock is owned by institutional investors.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 74,530 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $23.44, for a total value of $1,746,983.20. Following the transaction, the executive owned 138,630 shares in the company, valued at approximately $3,249,487.20. The trade was a 34.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Souvik Das sold 88,848 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $23.44, for a total transaction of $2,082,597.12. Following the completion of the transaction, the chief technology officer owned 207,132 shares in the company, valued at $4,855,174.08. The trade was a 30.02% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 780,842 shares of company stock valued at $18,363,380. Company insiders own 3.31% of the company’s stock.

Analysts Set New Price Targets

CWAN has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $24.55 target price (down from $36.00) on shares of Clearwater Analytics in a research report on Wednesday, February 25th. Weiss Ratings cut shares of Clearwater Analytics from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. UBS Group cut shares of Clearwater Analytics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $24.55 in a research report on Monday, January 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $24.55 target price (down from $27.00) on shares of Clearwater Analytics in a research report on Tuesday, January 27th. Finally, DA Davidson reiterated a “neutral” rating and issued a $24.55 target price on shares of Clearwater Analytics in a research report on Thursday, February 19th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Clearwater Analytics has a consensus rating of “Hold” and a consensus target price of $26.17.

Clearwater Analytics Price Performance

CWAN stock opened at $24.35 on Monday. The firm’s 50-day moving average price is $23.84 and its two-hundred day moving average price is $22.85. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.73 and a 12-month high of $25.07. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of -135.24, a PEG ratio of 3.52 and a beta of 0.61. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.39.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Clearwater Analytics had a negative net margin of 5.88% and a positive return on equity of 3.17%. The firm had revenue of $221.23 million for the quarter, compared to analysts’ expectations of $214.09 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 74.4% compared to the same quarter last year. As a group, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.35 earnings per share for the current year.

Clearwater Analytics Company Profile

Clearwater Analytics LLC is a global provider of web-based investment portfolio accounting, reporting, and analytics solutions. The company’s software-as-a-service platform automates complex processes involved in investment data aggregation, reconciliation, valuation, and regulatory reporting. Serving institutional investors—including insurers, asset managers, corporations, government entities, and asset owners—Clearwater Analytics enables clients to optimize performance visibility, risk management, and operational efficiency.

Founded in 2004 and headquartered in Boise, Idaho, Clearwater Analytics has grown its global footprint with offices across North America, Europe, and the Asia-Pacific region.