Comerica Bank Buys 112,925 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Comerica Bank increased its stake in Clearwater Analytics Holdings, Inc. by 20.9% in Q1, now owning approximately 652,370 shares valued at $17.5 million.
• Several institutional investors, including Zevenbergen Capital and Vanguard Group, boosted their holdings in Clearwater Analytics, with total institutional ownership now at 50.10%.
• Clearwater Analytics' stock performance reported a 1.7% decline recently, with earnings per share of $0.12, slightly missing analysts' expectations.

Comerica Bank raised its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 20.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 652,370 shares of the company's stock after buying an additional 112,925 shares during the period. Comerica Bank owned about 0.23% of Clearwater Analytics worth $17,484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CWAN. Vanguard Group Inc. lifted its holdings in Clearwater Analytics by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock worth $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 Clearwater Analytics during the 1st quarter worth approximately $56,648,000. Nuveen LLC acquired a new stake in Clearwater Analytics during the 1st quarter worth approximately $53,894,000. Invesco Ltd. lifted its holdings in Clearwater Analytics by 34.1% during the 1st 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 last quarter. Finally, Brown Advisory Inc. lifted its holdings in Clearwater Analytics by 15,661.6% during the 1st quarter. Brown Advisory Inc. now owns 1,407,040 shares of the company's stock worth $37,709,000 after purchasing an additional 1,398,113 shares during the last quarter. Institutional investors own 50.10% of the company's stock.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 46,962 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $20.12, for a total transaction of $944,875.44. Following the sale, the chief executive officer owned 895,663 shares in the company, valued at $18,020,739.56. The trade was a 4.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Souvik Das sold 10,000 shares of the business's stock in a transaction on 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 in the company, valued at $2,650,980. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 266,748 shares of company stock worth $5,755,414 in the last 90 days. Insiders own 3.31% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CWAN. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. The Goldman Sachs Group raised Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 price target for the company in a report on Monday, August 11th. DA Davidson lowered their price objective on 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, Oppenheimer dropped their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $32.67.

Clearwater Analytics Price Performance

Shares of CWAN traded up $0.13 during midday trading on Friday, hitting $20.66. The company's stock had a trading volume of 3,329,745 shares, compared to its average volume of 3,419,490. Clearwater Analytics Holdings, Inc. has a one year low of $17.98 and a one year high of $35.71. The company's fifty day simple moving average is $20.99 and its two-hundred day simple moving average is $23.59. 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 stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 4.76 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $181.94 million during the quarter, compared to the consensus estimate of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The company's revenue for the quarter was up 70.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. As a group, equities 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.