Clearwater Analytics Holdings, Inc. $CWAN Shares Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly increased its holdings in Clearwater Analytics by 1,122.4%, acquiring a total of 114,676 shares worth approximately $2.5 million.
• In addition to Callan, several large investors, including Vanguard Group Inc. and Invesco Ltd., have also expanded their positions in Clearwater Analytics, with institutional ownership now at 50.10%.
• Clearwater Analytics recently reported quarterly earnings, missing EPS expectations but achieving a revenue increase of 70.4% year-over-year.

Callan Family Office LLC grew its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 1,122.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,676 shares of the company's stock after purchasing an additional 105,295 shares during the quarter. Callan Family Office LLC's holdings in Clearwater Analytics were worth $2,515,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CWAN. Vanguard Group Inc. grew its position in shares of Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after purchasing an additional 2,366,715 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Clearwater Analytics in the first quarter valued at approximately $56,648,000. Nuveen LLC acquired a new stake in shares of Clearwater Analytics in the first quarter valued at approximately $53,894,000. Riverbridge Partners LLC acquired a new stake in shares of Clearwater Analytics in the second quarter valued at approximately $35,313,000. Finally, Invesco Ltd. grew its position in shares of Clearwater Analytics by 34.1% in the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock valued at $152,930,000 after purchasing an additional 1,452,474 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Clearwater Analytics

In other news, insider Subi Sethi sold 7,434 shares of the firm's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $131,433.12. Following the transaction, the insider owned 226,980 shares of the company's stock, valued at approximately $4,013,006.40. This trade represents a 3.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the transaction, the chief financial officer directly owned 348,964 shares in the company, valued at approximately $7,851,690. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,727 shares of company stock worth $4,502,559. Company insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $17.64 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The company has a market cap of $5.16 billion, a P/E ratio of 11.09, a P/E/G ratio of 4.46 and a beta of 0.69. 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 moving average is $19.27 and its two-hundred day moving average is $21.55.

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

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price objective on the stock in a research note on Monday, August 11th. Weiss Ratings reissued a "sell (d+)" rating on shares of Clearwater Analytics in a research note on Wednesday. DA Davidson reduced their price objective on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, Piper Sandler set a $27.00 price objective on shares of Clearwater Analytics and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.67.

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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