Congress Asset Management Co. Purchases New Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Congress Asset Management Co. bought a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 466,154 shares of the company's stock, valued at approximately $12,493,000. Congress Asset Management Co. owned about 0.19% of Clearwater Analytics at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Arcadia Investment Management Corp MI purchased a new stake in shares of Clearwater Analytics in the fourth quarter valued at approximately $57,000. Aster Capital Management DIFC Ltd acquired a new stake in Clearwater Analytics in the fourth quarter valued at $82,000. OFI Invest Asset Management acquired a new position in shares of Clearwater Analytics during the 4th quarter worth $88,000. Assetmark Inc. purchased a new position in shares of Clearwater Analytics in the 4th quarter valued at about $111,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $116,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Insiders Place Their Bets

In other Clearwater Analytics news, Director Kathleen A. Corbet sold 12,634 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the transaction, the director now owns 14,498 shares in the company, valued at $343,022.68. The trade was a 46.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $26.56, for a total value of $1,328,000.00. Following the sale, the chief executive officer now owns 857,798 shares of the company's stock, valued at $22,783,114.88. This represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,034 shares of company stock worth $4,926,245 over the last quarter. 3.31% of the stock is owned by corporate insiders.

Clearwater Analytics Trading Down 6.6%

NYSE CWAN traded down $1.63 during mid-day trading on Wednesday, hitting $23.12. The company's stock had a trading volume of 9,222,891 shares, compared to its average volume of 2,472,597. The firm has a market capitalization of $6.55 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 8.23 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.63 and a 52-week high of $35.71. The stock's fifty day simple moving average is $23.04 and its two-hundred day simple moving average is $26.53.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley reissued an "overweight" rating and issued a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Royal Bank of Canada upped their price target on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, UBS Group increased their target price on Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Clearwater Analytics currently has an average rating of "Moderate Buy" and a consensus target price of $32.00.

About Clearwater Analytics

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.