Stevens Capital Management LP Makes New Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Stevens Capital Management LP bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,272 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CWAN. Principal Financial Group Inc. boosted its position in Clearwater Analytics by 1,600.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock valued at $39,690,000 after acquiring an additional 1,357,425 shares in the last quarter. State Street Corp boosted its position in shares of Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company’s stock valued at $91,341,000 after purchasing an additional 1,009,548 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in Clearwater Analytics by 189.5% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after purchasing an additional 830,684 shares in the last quarter. Raymond James Financial Inc. bought a new position in Clearwater Analytics in the fourth quarter worth $20,482,000. Finally, Wasatch Advisors LP lifted its position in Clearwater Analytics by 3.2% during the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock valued at $457,909,000 after buying an additional 559,564 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $27.11 on Tuesday. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $28.28 and a 200-day moving average price of $27.85. Clearwater Analytics Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $35.71. The firm has a market capitalization of $6.80 billion, a PE ratio of 16.33, a P/E/G ratio of 8.23 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, February 19th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). The company had revenue of $126.47 million during the quarter, compared to the consensus estimate of $120.34 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. As a group, equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on CWAN shares. Oppenheimer increased their price target on shares of Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Morgan Stanley reissued an “overweight” rating and issued a $36.00 target price (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Wells Fargo & Company raised their price target on Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $35.00 to $32.00 in a research report on Tuesday, January 14th. Finally, UBS Group increased their price objective on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average price target of $33.80.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 218,687 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $6,575,918.09. Following the completion of the sale, the chief executive officer now directly owns 681,588 shares in the company, valued at approximately $20,495,351.16. The trade was a 24.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Scott Stanley Erickson sold 76,256 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $2,293,017.92. Following the completion of the transaction, the executive now owns 78,363 shares in the company, valued at $2,356,375.41. The trade was a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 644,510 shares of company stock worth $18,688,862. 4.60% 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.