Aaron Wealth Advisors LLC Takes $980,000 Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Aaron Wealth Advisors LLC acquired a new stake of approximately $980,000 in Clearwater Analytics, purchasing 44,688 shares in the second quarter.
• Analysts have recently updated their ratings for Clearwater Analytics, with Goldman Sachs upgrading to a "buy" and setting a price target of $27.00, while the consensus price target currently stands at $32.67.
• Clearwater Analytics announced a share buyback program worth $100 million, indicating the board's belief that the company's shares are undervalued.

Aaron Wealth Advisors LLC acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,688 shares of the company's stock, valued at approximately $980,000.

Other large investors have also made changes to their positions in the company. Zevenbergen Capital Investments LLC lifted its stake in shares of Clearwater Analytics by 48.6% during the first quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company's stock valued at $24,373,000 after acquiring an additional 297,414 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Clearwater Analytics during the 1st quarter valued at about $314,000. Vanguard Group Inc. lifted its position in Clearwater Analytics by 11.3% during 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. Yorktown Management & Research Co Inc acquired a new position in Clearwater Analytics during the 1st quarter valued at about $409,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Clearwater Analytics during the 4th quarter valued at about $8,580,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Wall Street Analysts Forecast Growth

CWAN has been the topic of several analyst reports. Royal Bank Of Canada restated an "outperform" rating and issued a $36.00 price objective on shares of Clearwater Analytics in a report on Wednesday. Zacks Research raised Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Oppenheimer cut their target price 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. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Monday, August 11th. Finally, Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.51, for a total value of $219,975.25. Following the sale, the chief financial officer directly owned 338,964 shares in the company, valued at approximately $6,613,187.64. The trade was a 3.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Souvik Das sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $20.57, for a total value of $205,700.00. Following the transaction, the chief technology officer directly owned 121,549 shares in the company, valued at $2,500,262.93. This trade represents a 7.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,323 shares of company stock worth $4,652,514 over the last ninety days. Insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Down 5.7%

Shares of CWAN traded down $1.11 during midday trading on Friday, hitting $18.20. The stock had a trading volume of 10,346,199 shares, compared to its average volume of 3,922,392. The company has a 50 day simple moving average of $20.28 and a two-hundred day simple moving average of $22.58. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.98 and a twelve month high of $35.71. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 4.89 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02.

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

Clearwater Analytics declared that its Board of Directors has authorized a share buyback program on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.