Clearwater Analytics Holdings, Inc. $CWAN Position Lifted by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Clearwater Analytics Holdings, Inc. by 61.9%, owning approximately 1,020,427 shares valued at $22.38 million as of the last quarter.
• Analysts have provided a mostly positive outlook on Clearwater Analytics, with nine rating it as a Buy and setting a consensus target price of $32.67.
• The company recently authorized a stock repurchase plan allowing for up to $100 million in share buybacks, indicating confidence in its own stock value.

Allianz Asset Management GmbH raised its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 61.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,020,427 shares of the company's stock after acquiring an additional 390,031 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.36% of Clearwater Analytics worth $22,378,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CWAN. Vanguard Group Inc. boosted its stake in Clearwater Analytics by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Clearwater Analytics during the first quarter worth $56,648,000. Nuveen LLC acquired a new stake in shares of Clearwater Analytics during the first quarter worth $53,894,000. Riverbridge Partners LLC acquired a new stake in shares of Clearwater Analytics during the second quarter worth $35,313,000. Finally, Invesco Ltd. raised its holdings in shares of Clearwater Analytics by 34.1% during the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock worth $152,930,000 after purchasing an additional 1,452,474 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Monday, August 11th. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Weiss Ratings reissued a "sell (d+)" rating on shares of Clearwater Analytics in a report on Wednesday, October 8th. Royal Bank Of Canada reissued an "outperform" rating and set a $36.00 target price on shares of Clearwater Analytics in a report on Wednesday, September 17th. Finally, DA Davidson dropped their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Clearwater Analytics has an average rating of "Moderate Buy" and a consensus target price of $32.67.

Clearwater Analytics Stock Down 0.9%

CWAN stock opened at $17.99 on Monday. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $35.71. The firm's 50-day simple moving average is $19.07 and its 200 day simple moving average is $21.22. The stock has a market cap of $5.26 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 4.79 and a beta of 0.69.

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 analysts' consensus estimates of $0.13 by ($0.01). The firm had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The firm's revenue was up 70.4% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. As a group, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, September 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Clearwater Analytics

In other news, insider Subi Sethi sold 7,434 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $131,433.12. Following the completion of the transaction, the insider owned 226,980 shares in the company, valued at approximately $4,013,006.40. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James S. Cox sold 11,275 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.51, for a total transaction of $219,975.25. Following the completion of the transaction, the chief financial officer owned 338,964 shares of the company's stock, valued at approximately $6,613,187.64. The trade was a 3.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,602 shares of company stock worth $2,756,283 in the last 90 days. Corporate insiders own 3.31% of the company's stock.

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.

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