NBC Securities Inc. Grows Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

NBC Securities Inc. raised its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 101,600.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,306 shares of the company's stock after buying an additional 18,288 shares during the period. NBC Securities Inc.'s holdings in Clearwater Analytics were worth $490,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CWAN. Spire Wealth Management acquired a new position in Clearwater Analytics in the 4th quarter valued at $534,000. Jennison Associates LLC acquired a new position in Clearwater Analytics during the fourth quarter worth about $1,138,000. Stephens Investment Management Group LLC lifted its stake in Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company's stock valued at $34,926,000 after purchasing an additional 830,684 shares during the last quarter. Stephens Inc. AR acquired a new stake in shares of Clearwater Analytics during the 4th quarter valued at $220,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Clearwater Analytics during the fourth quarter worth about $167,000. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN traded up $0.29 during midday trading on Monday, reaching $24.20. The company had a trading volume of 4,066,816 shares, compared to its average volume of 2,424,745. The stock has a market cap of $6.86 billion, a P/E ratio of 14.58, a P/E/G ratio of 8.23 and a beta of 0.77. The company's 50 day moving average price is $23.10 and its 200 day moving average price is $26.59. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.63 and a 52-week high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. During the same quarter in the prior year, the company earned $0.10 EPS. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other news, Director Kathleen A. Corbet sold 12,634 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total value of $298,920.44. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at approximately $343,022.68. This trade represents a 46.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the sale, the chief executive officer now directly owns 876,754 shares in the company, valued at $21,296,354.66. This trade represents a 5.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,034 shares of company stock valued at $4,926,245 over the last three months. Company insiders own 3.31% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CWAN shares. Piper Sandler decreased their price objective on Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Morgan Stanley restated an "overweight" rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Royal Bank of Canada upped their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. assumed coverage on Clearwater Analytics in a research note on Friday, April 25th. They set an "overweight" rating and a $28.00 price target for the company. Finally, The Goldman Sachs Group started coverage on shares of Clearwater Analytics in a research note on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.40.

About Clearwater Analytics

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.