Blair William & Co. IL Raises Stake in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Blair William & Co. IL increased its stake in Clearwater Analytics Holdings, Inc. by 53.4%, owning approximately 3,888,661 shares valued at $85.28 million at the end of the last reporting period.
• Clearwater Analytics reported a quarterly revenue of $181.94 million, exceeding analysts' expectations and showing a year-over-year growth of 70.4%.
• The company has announced a share buyback program allowing for repurchases of up to $100 million in stock, signaling confidence from the Board that the stock is undervalued.

Blair William & Co. IL increased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 53.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,888,661 shares of the company's stock after acquiring an additional 1,354,391 shares during the period. Blair William & Co. IL owned approximately 1.37% of Clearwater Analytics worth $85,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CWAN. Nvwm LLC purchased a new stake in shares of Clearwater Analytics in the first quarter worth $46,000. Quarry LP grew its position in Clearwater Analytics by 979.4% during the 1st quarter. Quarry LP now owns 2,094 shares of the company's stock valued at $56,000 after purchasing an additional 1,900 shares during the last quarter. CWM LLC increased its stake in Clearwater Analytics by 714.6% during the 1st 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. Hilltop National Bank bought a new stake in Clearwater Analytics during the 2nd quarter valued at about $108,000. Finally, Portside Wealth Group LLC purchased a new position in Clearwater Analytics in the first quarter worth about $206,000. Institutional investors own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

CWAN opened at $18.11 on Thursday. The company's 50 day moving average is $19.37 and its 200 day moving average is $21.72. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 4.47 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.15 and a 12-month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results 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). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The business had revenue of $181.94 million for the quarter, compared to analysts' expectations of $174.16 million. During the same quarter in the prior year, the business earned $0.10 EPS. The company's revenue was up 70.4% compared to the same quarter last year. On average, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its Board of Directors has initiated a share buyback program on Wednesday, September 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 1.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Oppenheimer cut their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. The Goldman Sachs Group raised Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective on the stock in a research report on Monday, August 11th. DA Davidson reduced their target price on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Zacks Research raised Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $36.00 price target on shares of Clearwater Analytics in a report on Wednesday, September 17th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.67.

Insider Buying and Selling

In other news, insider Subi Sethi sold 7,434 shares of Clearwater Analytics stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $131,433.12. Following the transaction, the insider directly owned 226,980 shares of the company's stock, valued at $4,013,006.40. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Souvik Das sold 10,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $20.57, for a total transaction 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. This represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,727 shares of company stock worth $4,502,559 over the last ninety days. 3.31% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.