Alliance Wealth Advisors LLC UT Acquires Shares of 22,426 Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Alliance Wealth Advisors LLC has acquired a new position in Clearwater Analytics with a purchase of 22,426 shares, valued at approximately $601,000.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., have also increased their stakes in Clearwater Analytics, indicating growing confidence in the stock.
• Clearwater Analytics reported a revenue of $181.94 million for the last quarter, which was an increase of 70.4% year-over-year, although it missed earnings per share estimates slightly.

Alliance Wealth Advisors LLC UT bought a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 22,426 shares of the company's stock, valued at approximately $601,000.

Several other institutional investors have also recently made changes to their positions in the company. Nvwm LLC bought a new stake in shares of Clearwater Analytics in the 1st quarter worth $46,000. CWM LLC lifted its position in Clearwater Analytics by 714.6% during the first quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after purchasing an additional 2,694 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Clearwater Analytics during the fourth quarter valued at about $121,000. Portside Wealth Group LLC bought a new stake in Clearwater Analytics during the first quarter valued at about $206,000. Finally, Norden Group LLC bought a new stake in Clearwater Analytics during the first quarter valued at about $232,000. Institutional investors own 50.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CWAN. Oppenheimer decreased their price target on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. DA Davidson dropped their target price 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. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a research report on Monday, August 11th. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. started coverage on Clearwater Analytics in a report on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target for the company. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $32.67.

Clearwater Analytics Stock Performance

Shares of NYSE CWAN traded up $0.0260 during mid-day trading on Thursday, hitting $19.5760. The stock had a trading volume of 4,106,483 shares, compared to its average volume of 3,377,939. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The company has a 50 day moving average of $21.22 and a two-hundred day moving average of $23.94. 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 $5.73 billion, a PE ratio of 12.31, a PEG ratio of 4.66 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the company earned $0.10 earnings per share. Clearwater Analytics's revenue was up 70.4% on a year-over-year basis. Research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Clearwater Analytics news, insider Subi Sethi sold 7,358 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $21.67, for a total value of $159,447.86. Following the transaction, the insider directly owned 218,788 shares of the company's stock, valued at $4,741,135.96. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $19.42, for a total transaction of $218,960.50. Following the sale, the chief financial officer directly owned 343,964 shares in the company, valued at approximately $6,679,780.88. The trade was a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,748 shares of company stock valued at $4,549,748 in the last 90 days. 3.31% of the stock is currently owned by insiders.

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.