51,783 Shares in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Purchased by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT acquired 51,783 shares of Clearwater Analytics Holdings, valued at approximately $1.39 million, in the first quarter.
• Institutional investors own 50.10% of Clearwater Analytics, with Vanguard Group Inc. increasing its position by 11.3% in the same period.
• Clearwater Analytics reported quarterly earnings of $0.12 per share, missing expectations but showing a 70.4% year-over-year revenue increase.

Zions Bancorporation National Association UT bought a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 51,783 shares of the company's stock, valued at approximately $1,388,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after purchasing an additional 2,366,715 shares during the period. Invesco Ltd. boosted its position in Clearwater Analytics by 9.0% during the 4th quarter. Invesco Ltd. now owns 4,253,863 shares of the company's stock worth $117,066,000 after acquiring an additional 352,201 shares during the last quarter. Blair William & Co. IL boosted its position in Clearwater Analytics by 44.4% during the 1st quarter. Blair William & Co. IL now owns 2,534,270 shares of the company's stock worth $67,918,000 after acquiring an additional 779,538 shares during the last quarter. Fred Alger Management LLC boosted its position in Clearwater Analytics by 16.9% during the 4th quarter. Fred Alger Management LLC now owns 2,469,228 shares of the company's stock worth $67,953,000 after acquiring an additional 357,086 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its position in Clearwater Analytics by 13.8% during the 4th quarter. Driehaus Capital Management LLC now owns 2,214,452 shares of the company's stock worth $60,942,000 after acquiring an additional 268,601 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Clearwater Analytics Stock Up 5.1%

CWAN stock opened at $19.75 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 5.09. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 3.94 and a beta of 0.73. The business's fifty day moving average price is $21.89 and its two-hundred day moving average price is $24.41. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $181.94 million for the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%. The firm's quarterly revenue was up 70.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, equities analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total value of $420,750.00. Following the transaction, the chief financial officer owned 348,964 shares in the company, valued at approximately $7,851,690. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Subi Sethi sold 7,358 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $159,447.86. Following the completion of the transaction, the insider owned 218,788 shares in the company, valued at $4,741,135.96. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,107 shares of company stock worth $5,844,208 over the last three months. Company insiders own 3.31% of the company's stock.

Analyst Upgrades and Downgrades

CWAN has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target for the company. The Goldman Sachs Group initiated coverage on Clearwater Analytics in a research note on Monday, May 19th. They set a "neutral" rating and a $26.00 price objective on the stock. Wells Fargo & Company dropped their price objective on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Oppenheimer dropped their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. Finally, Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $31.90.

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.

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