Federated Hermes Inc. Sells 70,158 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Key Points

• Federated Hermes Inc. has reduced its stake in Clearwater Analytics Holdings by 20.7%, selling 70,158 shares, and now owns approximately 0.11% of the company valued at $7.22 million.
• Clearwater Analytics reported a 23.5% increase in revenue compared to the same quarter last year, with earnings per share of $0.13, surpassing analysts' expectations.
• Analyst ratings show a consensus of "Moderate Buy" for Clearwater Analytics, with several brokerages targeting stock prices between $26.00 and $36.00.

Federated Hermes Inc. trimmed its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 269,496 shares of the company's stock after selling 70,158 shares during the period. Federated Hermes Inc. owned approximately 0.11% of Clearwater Analytics worth $7,222,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nvwm LLC purchased a new stake in Clearwater Analytics in the 1st quarter worth $46,000. Aster Capital Management DIFC Ltd purchased a new stake in Clearwater Analytics in the 4th quarter worth $82,000. CWM LLC increased its stake in Clearwater Analytics by 714.6% in the 1st quarter. CWM LLC now owns 3,071 shares of the company's stock worth $82,000 after buying an additional 2,694 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Clearwater Analytics in the 4th quarter worth $116,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Clearwater Analytics in the 4th quarter worth $121,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CWAN. JPMorgan Chase & Co. initiated coverage on Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price target for the company. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Wells Fargo & Company reduced their target price on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Oppenheimer reduced their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group initiated coverage on Clearwater Analytics in a report on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.90.

Insiders Place Their Bets

In other news, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $159,447.86. Following the completion of the sale, the insider owned 218,788 shares of the company's stock, valued at approximately $4,741,135.96. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at $19,838,935.45. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,107 shares of company stock valued at $5,844,208 over the last quarter. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Trading Down 0.0%

CWAN stock traded down $0.01 during midday trading on Friday, reaching $20.25. 3,582,289 shares of the company traded hands, compared to its average volume of 3,746,251. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.09 and a current ratio of 5.09. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 4.05 and a beta of 0.73. Clearwater Analytics Holdings, Inc. has a 52-week low of $19.93 and a 52-week high of $35.71. The business has a 50 day moving average of $22.13 and a 200-day moving average of $24.67.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The firm's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics 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.