Charles Schwab Investment Management Inc. Acquires 32,966 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Clearwater Analytics Holdings, now owning approximately 1.69 million shares valued at $45.39 million, following a 2.0% rise in the first quarter.
• Clearwater Analytics' recent earnings report showed a net revenue increase of 70.4% year-over-year, though it missed EPS expectations by $0.01.
• Recent analyst ratings for Clearwater Analytics vary, with targets set as high as $36.00 and as low as $27.00, indicating a generally favorable outlook among analysts.

Charles Schwab Investment Management Inc. increased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,693,532 shares of the company's stock after buying an additional 32,966 shares during the period. Charles Schwab Investment Management Inc. owned about 0.67% of Clearwater Analytics worth $45,387,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CWAN. Vanguard Group Inc. boosted 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 worth $623,001,000 after buying an additional 2,366,715 shares during the period. Brown Advisory Inc. boosted its position in Clearwater Analytics by 15,661.6% during the 1st quarter. Brown Advisory Inc. now owns 1,407,040 shares of the company's stock worth $37,709,000 after buying an additional 1,398,113 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Clearwater Analytics by 369.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,481,582 shares of the company's stock worth $40,773,000 after buying an additional 1,166,139 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $30,375,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Clearwater Analytics in the 4th quarter worth approximately $29,124,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CWAN shares. Oppenheimer dropped their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 11th. JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target on the stock. 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. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, DA Davidson dropped their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $32.67.

Clearwater Analytics Trading Up 0.1%

Shares of NYSE:CWAN traded up $0.0260 during mid-day trading on Thursday, hitting $19.5760. The company had a trading volume of 4,113,600 shares, compared to its average volume of 4,900,554. The firm has a fifty day moving average price of $21.15 and a 200 day moving average price of $23.87. The company has a market capitalization of $5.73 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 4.60 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 Holdings, Inc. has a one year low of $17.98 and a one year high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released 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 company had revenue of $181.94 million during the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business's revenue was up 70.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 3,038 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $20.01, for a total transaction of $60,790.38. Following the sale, the chief executive officer owned 895,663 shares of the company's stock, valued at $17,922,216.63. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,786 shares of company stock worth $4,810,539. 3.31% of the stock is owned by 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.