Northern Trust Corp Grows Stake in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Northern Trust Corp increased its holdings in Clearwater Analytics by 6.8%, owning over 2 million shares worth about $55.6 million as of its latest SEC filing.
• Analysts have mixed views on Clearwater Analytics, with target prices ranging from $27.00 to $36.00, and the stock has an average rating of "Buy" with a consensus price target of $32.67.
• Insider transactions included CTO Souvik Das and CEO Sandeep Sahai selling shares totaling nearly $1.15 million, reflecting a decrease in their ownership stakes.

Northern Trust Corp increased its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,075,355 shares of the company's stock after purchasing an additional 132,891 shares during the quarter. Northern Trust Corp owned 0.73% of Clearwater Analytics worth $55,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CWAN. Mariner LLC acquired a new stake in shares of Clearwater Analytics in the fourth quarter valued at about $239,000. First Trust Advisors LP boosted its position in shares of Clearwater Analytics by 363.2% in the 4th quarter. First Trust Advisors LP now owns 267,533 shares of the company's stock worth $7,363,000 after buying an additional 209,776 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Clearwater Analytics by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 108,235 shares of the company's stock worth $2,979,000 after buying an additional 3,300 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Clearwater Analytics by 299.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,830 shares of the company's stock worth $271,000 after buying an additional 7,369 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Clearwater Analytics by 1.6% in the 4th quarter. Stifel Financial Corp now owns 189,116 shares of the company's stock worth $5,204,000 after buying an additional 2,889 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CWAN shares. DA Davidson decreased 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 report on Tuesday, August 12th. Piper Sandler set a $27.00 price objective on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Oppenheimer decreased their price objective 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. Finally, The Goldman Sachs Group upgraded 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 report on Monday, August 11th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $32.67.

Clearwater Analytics Trading Up 0.6%

NYSE CWAN traded up $0.13 during trading hours on Friday, hitting $20.66. 3,329,745 shares of the company's stock were exchanged, compared to its average volume of 5,245,859. The business's 50 day moving average is $20.98 and its 200-day moving average is $23.54. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.98 and a 12-month high of $35.71. The firm has a market capitalization of $6.04 billion, a P/E ratio of 128.31, a price-to-earnings-growth ratio of 4.83 and a beta of 0.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its 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 last year, the company posted $0.10 earnings per share. The business's quarterly revenue was up 70.4% compared to the same quarter last year. As a group, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the company's stock in a transaction dated Friday, August 15th. The stock was 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 directly owned 343,964 shares in the company, valued at $6,679,780.88. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Souvik Das sold 10,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the sale, the chief technology officer owned 132,549 shares of the company's stock, valued at $2,650,980. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 266,748 shares of company stock worth $5,755,414 over the last three months. 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.