466,154 Shares in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Purchased by Congress Asset Management Co.

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

Several other institutional investors have also bought and sold shares of CWAN. Stephens Investment Management Group LLC lifted 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 during the period. Stephens Inc. AR acquired a new stake in Clearwater Analytics in the fourth quarter worth about $220,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Clearwater Analytics in the fourth quarter worth about $167,000. Rhumbline Advisers raised its position in Clearwater Analytics by 20.2% in the fourth quarter. Rhumbline Advisers now owns 235,647 shares of the company's stock worth $6,485,000 after acquiring an additional 39,559 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Clearwater Analytics by 1,600.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock worth $39,690,000 after acquiring an additional 1,357,425 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

CWAN has been the topic of several research reports. 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. Piper Sandler dropped their price target 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. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target on the stock. UBS Group boosted their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.40.

Insiders Place Their Bets

In other news, CRO Scott Stanley Erickson sold 4,141 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $27.65, for a total value of $114,498.65. Following the transaction, the executive now owns 7,902 shares in the company, valued at $218,490.30. This represents a 34.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sandeep Sahai sold 50,000 shares of the company'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 completion of the transaction, the chief executive officer now owns 857,798 shares in the company, valued at $22,783,114.88. This represents a 5.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,175 shares of company stock worth $5,040,744. Company insiders own 3.31% of the company's stock.

Clearwater Analytics Price Performance

NYSE CWAN opened at $23.93 on Friday. The stock's 50-day moving average price is $23.10 and its two-hundred day moving average price is $26.63. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.78 billion, a PE ratio of 14.42, a PEG ratio of 8.23 and a beta of 0.77. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.63 and a 1 year high of $35.71.

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

Clearwater Analytics Company 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.

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