Chase Investment Counsel Corp Invests $5.73 Million in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Chase Investment Counsel Corp initiated a new position in Clearwater Analytics, buying 237,532 shares worth about $5.73 million. The stake represents about 1.6% of its portfolio and 0.08% of Clearwater Analytics.
• Insiders have been selling shares, including CFO James S. Cox and CTO Souvik Das, who both made large sales on February 18. In the last 90 days, insiders sold 780,842 shares worth $18.36 million.
• Clearwater Analytics recently reported quarterly revenue growth of 74.4% year over year and met earnings expectations with $0.16 EPS. Despite that growth, analysts currently rate the stock a Hold with a consensus price target of $26.17.

Chase Investment Counsel Corp acquired a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 237,532 shares of the company's stock, valued at approximately $5,729,000. Clearwater Analytics makes up 1.6% of Chase Investment Counsel Corp's holdings, making the stock its 21st largest holding. Chase Investment Counsel Corp owned approximately 0.08% of Clearwater Analytics as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CWAN. AQR Capital Management LLC grew its stake in Clearwater Analytics by 1,027.1% in the 1st quarter. AQR Capital Management LLC now owns 132,828 shares of the company's stock valued at $3,560,000 after buying an additional 121,043 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Clearwater Analytics in the 1st quarter valued at approximately $208,000. Woodline Partners LP grew its stake in Clearwater Analytics by 75.2% in the 1st quarter. Woodline Partners LP now owns 20,066 shares of the company's stock valued at $538,000 after buying an additional 8,613 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Clearwater Analytics by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 459,292 shares of the company's stock valued at $12,309,000 after buying an additional 6,826 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Clearwater Analytics by 51.8% in the 2nd quarter. M&T Bank Corp now owns 13,164 shares of the company's stock valued at $289,000 after buying an additional 4,492 shares in the last quarter. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Clearwater Analytics

In other news, CFO James S. Cox sold 93,930 shares of Clearwater Analytics stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $23.44, for a total transaction of $2,201,719.20. Following the completion of the sale, the chief financial officer directly owned 474,114 shares of the company's stock, valued at approximately $11,113,232.16. The trade was a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Souvik Das sold 88,848 shares of Clearwater Analytics stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $23.44, for a total transaction of $2,082,597.12. Following the sale, the chief technology officer directly owned 207,132 shares of the company's stock, valued at $4,855,174.08. This represents a 30.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 780,842 shares of company stock worth $18,363,380. 3.31% of the stock is owned by corporate insiders.

Clearwater Analytics Stock Down 0.0%

Shares of NYSE:CWAN opened at $24.35 on Monday. The firm has a fifty day moving average price of $23.84 and a two-hundred day moving average price of $22.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.26 and a quick ratio of 2.26. Clearwater Analytics Holdings, Inc. has a one year low of $15.73 and a one year high of $25.07. The company has a market cap of $7.27 billion, a price-to-earnings ratio of -135.24, a PEG ratio of 3.52 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Clearwater Analytics had a negative net margin of 5.88% and a positive return on equity of 3.17%. The firm had revenue of $221.23 million during the quarter, compared to the consensus estimate of $214.09 million. During the same period last year, the firm earned $0.13 EPS. The business's quarterly revenue was up 74.4% compared to the same quarter last year. Analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CWAN has been the subject of a number of recent research reports. UBS Group lowered shares of Clearwater Analytics from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $30.00 to $24.55 in a research note on Monday, January 26th. DA Davidson reiterated a "neutral" rating and issued a $24.55 price objective on shares of Clearwater Analytics in a research note on Thursday, February 19th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $24.55 price objective (down from $36.00) on shares of Clearwater Analytics in a research note on Wednesday, February 25th. Morgan Stanley reiterated an "equal weight" rating and issued a $24.55 price objective (down from $27.00) on shares of Clearwater Analytics in a research note on Tuesday, January 27th. Finally, Weiss Ratings downgraded shares of Clearwater Analytics from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Clearwater Analytics currently has a consensus rating of "Hold" and a consensus target price of $26.17.

About Clearwater Analytics

Clearwater Analytics LLC is a global provider of web-based investment portfolio accounting, reporting, and analytics solutions. The company's software-as-a-service platform automates complex processes involved in investment data aggregation, reconciliation, valuation, and regulatory reporting. Serving institutional investors—including insurers, asset managers, corporations, government entities, and asset owners—Clearwater Analytics enables clients to optimize performance visibility, risk management, and operational efficiency.

Founded in 2004 and headquartered in Boise, Idaho, Clearwater Analytics has grown its global footprint with offices across North America, Europe, and the Asia-Pacific region.

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