Ameriprise Financial Inc. Buys 204,563 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Ameriprise Financial Inc. boosted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 38.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 741,498 shares of the company's stock after purchasing an additional 204,563 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.30% of Clearwater Analytics worth $20,406,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in shares of Clearwater Analytics during the fourth quarter worth approximately $57,000. R Squared Ltd acquired a new position in Clearwater Analytics during the 4th quarter worth $80,000. Aster Capital Management DIFC Ltd bought a new position in shares of Clearwater Analytics in the fourth quarter worth $82,000. Nisa Investment Advisors LLC raised its stake in shares of Clearwater Analytics by 174.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock valued at $86,000 after purchasing an additional 1,987 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Clearwater Analytics in the fourth quarter worth about $88,000. 50.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley reissued an "overweight" rating and set a $36.00 target price (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Piper Sandler cut their target price on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. started coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on Clearwater Analytics in a research note on Monday. They issued a "neutral" rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.40.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $23.09, for a total transaction of $1,154,500.00. Following the sale, the chief executive officer now directly owns 876,754 shares of the company's stock, valued at approximately $20,244,249.86. The trade was a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $23.17, for a total value of $433,279.00. Following the completion of the transaction, the chief financial officer now directly owns 358,885 shares of the company's stock, valued at approximately $8,315,365.45. The trade was a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 644,510 shares of company stock worth $18,311,363. 3.31% of the stock is owned by corporate insiders.

Clearwater Analytics Stock Performance

NYSE:CWAN traded down $0.32 during trading hours on Monday, hitting $23.51. 2,496,169 shares of the company traded hands, compared to its average volume of 2,310,894. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.63 and a twelve month high of $35.71. The firm has a 50-day moving average of $24.31 and a 200 day moving average of $27.34. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 8.23 and a beta of 0.79.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The firm had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. During the same period in the previous year, the company posted $0.10 earnings per share. The company's quarterly revenue was up 23.5% compared to the same quarter last year. On average, analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

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.