Acadian Asset Management LLC Purchases New Shares in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Acadian Asset Management LLC has purchased 47,437 shares of Clearwater Analytics Holdings, Inc., valued at approximately $1.27 million, during the first quarter.
• Insider sales were notable as CEO Sandeep Sahai and CFO James S. Cox sold significant portions of their shares, with Sahai selling nearly 47,000 shares and Cox selling over 11,000 shares.
• The company is implementing a $100 million share repurchase plan, indicating that the board believes its shares may be undervalued.

Acadian Asset Management LLC acquired a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 47,437 shares of the company's stock, valued at approximately $1,270,000.

Several other large investors have also bought and sold shares of CWAN. Nvwm LLC acquired a new stake in Clearwater Analytics in the first quarter valued at about $46,000. Quarry LP boosted its stake in Clearwater Analytics by 979.4% in the first quarter. Quarry LP now owns 2,094 shares of the company's stock valued at $56,000 after buying an additional 1,900 shares in the last quarter. CWM LLC boosted its stake in Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after buying an additional 2,694 shares in the last quarter. Portside Wealth Group LLC acquired a new stake in Clearwater Analytics in the first quarter valued at about $206,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Clearwater Analytics in the first quarter valued at about $208,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CWAN. The Goldman Sachs Group raised Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price target on the stock in a research note on Monday, August 11th. Royal Bank Of Canada restated an "outperform" rating and set a $36.00 price objective on shares of Clearwater Analytics in a research report on Wednesday. DA Davidson lowered their price objective on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, Oppenheimer lowered their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

Insiders Place Their Bets

In related news, CEO Sandeep Sahai sold 46,962 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $20.12, for a total value of $944,875.44. Following the completion of the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at approximately $18,020,739.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Souvik Das sold 10,000 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $20.57, for a total value of $205,700.00. Following the completion of the sale, the chief technology officer directly owned 121,549 shares of the company's stock, valued at $2,500,262.93. The trade was a 7.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,323 shares of company stock valued at $4,652,514. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Down 5.7%

CWAN stock traded down $1.11 during midday trading on Friday, reaching $18.20. 10,346,199 shares of the company's stock traded hands, compared to its average volume of 4,191,679. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The firm's fifty day moving average price is $20.28 and its 200-day moving average price is $22.47. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 4.62 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm's quarterly revenue was up 70.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics announced that its board has approved a share repurchase plan on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is 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.