Fuller & Thaler Asset Management Inc. Purchases New Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Fuller & Thaler Asset Management Inc. has acquired a new investment in Clearwater Analytics Holdings, purchasing 2,113,738 shares valued at approximately $56.65 million, representing about 0.75% ownership of the company.
• Several large investors, including Vanguard Group Inc. and Invesco Ltd., have significantly increased their stakes in Clearwater Analytics in the first quarter of the year, indicating growing institutional interest.
• Clearwater Analytics reported earnings of $0.12 per share for its last quarter, falling short of analysts' expectations, but achieved a revenue increase of 70.4% compared to the same quarter last year.

Fuller & Thaler Asset Management Inc. bought a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,113,738 shares of the company's stock, valued at approximately $56,648,000. Fuller & Thaler Asset Management Inc. owned approximately 0.75% of Clearwater Analytics as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock worth $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Nuveen LLC acquired a new position in shares of Clearwater Analytics in the first quarter worth $53,894,000. Invesco Ltd. increased its stake in shares of Clearwater Analytics by 34.1% in the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock worth $152,930,000 after acquiring an additional 1,452,474 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Clearwater Analytics by 15,661.6% in the first quarter. Brown Advisory Inc. now owns 1,407,040 shares of the company's stock worth $37,709,000 after acquiring an additional 1,398,113 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Clearwater Analytics by 165.9% in the first quarter. Raymond James Financial Inc. now owns 1,979,061 shares of the company's stock worth $53,038,000 after acquiring an additional 1,234,791 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company's stock.

Analyst Ratings Changes

CWAN has been the topic of several analyst reports. DA Davidson lowered their target price 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 target price on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a research report on Monday, August 11th. Finally, Oppenheimer lowered their target price 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. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $32.67.

Clearwater Analytics Stock Performance

CWAN stock traded up $1.2390 during mid-day trading on Friday, reaching $20.8390. 4,962,326 shares of the stock traded hands, compared to its average volume of 4,861,539. 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 business has a 50-day moving average of $21.13 and a two-hundred day moving average of $23.79. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. The firm has a market capitalization of $6.09 billion, a PE ratio of 13.11, a P/E/G ratio of 4.91 and a beta of 0.73.

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 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 the consensus estimate of $174.16 million. During the same quarter in the previous year, the business posted $0.10 EPS. The firm's quarterly revenue was up 70.4% on a year-over-year basis. As a group, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Insider Activity at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 4,460 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $21.67, for a total value of $96,648.20. Following the completion of the sale, the executive owned 15,776 shares in the company, valued at approximately $341,865.92. This trade represents a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 3,038 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $20.01, for a total transaction of $60,790.38. Following the transaction, the chief executive officer owned 895,663 shares of the company's stock, valued at approximately $17,922,216.63. This represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,786 shares of company stock worth $4,810,539 in the last three months. Corporate insiders own 3.31% of the company's stock.

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.