Wellington Shields Capital Management LLC Acquires New Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Wellington Shields Capital Management LLC bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWANFree Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,000 shares of the company’s stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its position in Clearwater Analytics by 89.7% during the third quarter. Envestnet Asset Management Inc. now owns 197,011 shares of the company’s stock valued at $3,810,000 after acquiring an additional 93,163 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Clearwater Analytics by 19.4% during the 3rd quarter. Sei Investments Co. now owns 1,122,209 shares of the company’s stock valued at $21,704,000 after purchasing an additional 182,644 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Clearwater Analytics in the 3rd quarter worth $1,698,000. TimesSquare Capital Management LLC increased its position in Clearwater Analytics by 322.2% during the 3rd quarter. TimesSquare Capital Management LLC now owns 802,250 shares of the company’s stock valued at $15,516,000 after buying an additional 612,250 shares in the last quarter. Finally, Comerica Bank acquired a new position in Clearwater Analytics during the 3rd quarter valued at about $9,059,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CWAN shares. JPMorgan Chase & Co. dropped their price target on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Oppenheimer raised shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Monday. Wells Fargo & Company reduced their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $19.00 price target on shares of Clearwater Analytics in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Get Our Latest Analysis on Clearwater Analytics

Insider Activity

In related news, CTO Souvik Das sold 50,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $19.96, for a total value of $998,000.00. Following the completion of the transaction, the chief technology officer now owns 33,142 shares of the company’s stock, valued at approximately $661,514.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Souvik Das sold 50,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $19.96, for a total value of $998,000.00. Following the completion of the sale, the chief technology officer now owns 33,142 shares of the company’s stock, valued at approximately $661,514.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Warburg Pincus Llc sold 7,000,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $19.71, for a total transaction of $137,970,000.00. The disclosure for this sale can be found here. Insiders have sold 7,193,079 shares of company stock worth $141,831,984 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Clearwater Analytics Stock Performance

NYSE:CWAN traded down $0.61 during trading hours on Wednesday, reaching $18.14. The company had a trading volume of 466,182 shares, compared to its average volume of 1,424,462. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.59 and a quick ratio of 5.59. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.61 and a 1-year high of $21.89. The business’s 50 day moving average price is $18.81 and its 200-day moving average price is $18.42. The firm has a market cap of $4.46 billion, a PE ratio of -224.88, a price-to-earnings-growth ratio of 7.46 and a beta of 0.57.

Clearwater Analytics (NYSE:CWANGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $102.70 million during the quarter, compared to analysts’ expectations of $100.55 million. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.25%. The business’s revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. Research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current year.

Clearwater Analytics Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Clearwater Analytics (NYSE:CWAN)

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