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Conestoga Capital Advisors LLC Sells 31,905 Shares of Clearwater Analytics Holdings, Inc. $CWAN

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Key Points

  • Conestoga Capital Advisors LLC reduced its stake in Clearwater Analytics by 0.5%, selling 31,905 shares in the second quarter, and now owns approximately 6.69 million shares worth $146.7 million.
  • Clearwater Analytics received mixed ratings from analysts, with Goldman Sachs upgrading the stock to a "buy" while Wall Street Zen downgraded it to a "sell."
  • In recent insider trading, CFO James S. Cox sold 11,275 shares and Subi Sethi, another insider, sold 7,434 shares, indicating a decrease in their ownership positions.
  • Interested in Clearwater Analytics? Here are five stocks we like better.

Conestoga Capital Advisors LLC cut its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,690,647 shares of the company's stock after selling 31,905 shares during the quarter. Clearwater Analytics comprises approximately 2.2% of Conestoga Capital Advisors LLC's holdings, making the stock its 16th largest holding. Conestoga Capital Advisors LLC owned approximately 2.36% of Clearwater Analytics worth $146,726,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR bought a new stake in shares of Clearwater Analytics during the second quarter worth $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Clearwater Analytics during the second quarter worth $831,000. Cannon Global Investment Management LLC bought a new stake in shares of Clearwater Analytics during the second quarter worth $219,000. Huntleigh Advisors Inc. lifted its position in shares of Clearwater Analytics by 5.7% during the second quarter. Huntleigh Advisors Inc. now owns 34,062 shares of the company's stock worth $747,000 after purchasing an additional 1,851 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Clearwater Analytics by 61.9% during the second quarter. Allianz Asset Management GmbH now owns 1,020,427 shares of the company's stock worth $22,378,000 after purchasing an additional 390,031 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CWAN. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price for the company in a research report on Monday, August 11th. Wall Street Zen downgraded Clearwater Analytics from a "hold" rating to a "sell" rating in a research report on Saturday. Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. Weiss Ratings restated a "sell (d+)" rating on shares of Clearwater Analytics in a report on Wednesday, October 8th. Finally, DA Davidson decreased their price objective on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Clearwater Analytics has an average rating of "Moderate Buy" and a consensus price target of $32.67.

Check Out Our Latest Report on Clearwater Analytics

Insider Buying and Selling at Clearwater Analytics

In other news, insider Subi Sethi sold 7,434 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $131,433.12. Following the sale, the insider owned 226,980 shares in the company, valued at approximately $4,013,006.40. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James S. Cox sold 11,275 shares of the business's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $17.98, for a total value of $202,724.50. Following the sale, the chief financial officer owned 338,983 shares in the company, valued at $6,094,914.34. The trade was a 3.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,602 shares of company stock valued at $2,756,283. Insiders own 3.31% of the company's stock.

Clearwater Analytics Price Performance

CWAN opened at $17.99 on Monday. The business's 50-day moving average is $19.07 and its two-hundred day moving average is $21.22. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.15 and a 1 year high of $35.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The firm has a market capitalization of $5.26 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 4.79 and a beta of 0.69.

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

Clearwater Analytics announced that its Board of Directors has approved a share buyback plan on Wednesday, September 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

About Clearwater Analytics

(Free Report)

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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Institutional Ownership by Quarter for Clearwater Analytics (NYSE:CWAN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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