Intech Investment Management LLC Raises Stock Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Intech Investment Management LLC increased its holdings in Clearwater Analytics by 53.9%, owning 107,436 shares valued at approximately $2.88 million as of its recent SEC filing.
• Clearwater Analytics announced a $100 million stock buyback plan, reflecting the board's belief that the shares are undervalued.
• Despite reporting earnings per share of $0.12, Clearwater Analytics fell short of analyst expectations, although revenue exceeded forecasts, showing a 70.4% year-over-year growth.

Intech Investment Management LLC grew its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 53.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,436 shares of the company's stock after purchasing an additional 37,615 shares during the period. Intech Investment Management LLC's holdings in Clearwater Analytics were worth $2,879,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Wellington Management Group LLP grew its position in shares of Clearwater Analytics by 7.7% during the 1st quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company's stock worth $171,866,000 after purchasing an additional 458,444 shares in the last quarter. Invesco Ltd. grew its position in shares of 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 in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Clearwater Analytics by 23.8% during the 1st quarter. Driehaus Capital Management LLC now owns 2,742,511 shares of the company's stock worth $73,499,000 after acquiring an additional 528,059 shares during the period. Finally, Blair William & Co. IL lifted its holdings in shares of Clearwater Analytics by 44.4% during the 1st quarter. Blair William & Co. IL now owns 2,534,270 shares of the company's stock worth $67,918,000 after acquiring an additional 779,538 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CWAN. DA Davidson cut their price target on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. The Goldman Sachs Group raised shares of 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. Oppenheimer cut their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $36.00 price target on shares of Clearwater Analytics in a report on Wednesday. Finally, Piper Sandler set a $27.00 price objective on shares of Clearwater Analytics and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.67.

Insider Buying and Selling at Clearwater Analytics

In other news, CTO Souvik Das sold 10,000 shares of Clearwater Analytics stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chief technology officer directly owned 132,549 shares in the company, valued at $2,650,980. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Subi Sethi sold 7,358 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $159,447.86. Following the transaction, the insider directly owned 218,788 shares in the company, valued at $4,741,135.96. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,323 shares of company stock valued at $4,652,514 over the last three months. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Down 5.7%

NYSE:CWAN traded down $1.11 during trading hours on Friday, reaching $18.20. The company had a trading volume of 10,346,199 shares, compared to its average volume of 3,922,392. 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 firm has a market cap of $5.32 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 4.89 and a beta of 0.73. The business's 50-day simple moving average is $20.28 and its two-hundred day simple moving average is $22.58. Clearwater Analytics Holdings, Inc. has a twelve month low of $17.98 and a twelve month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The company had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company's revenue for the quarter was up 70.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 1.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

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.