Invesco Ltd. Purchases 1,452,474 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Invesco Ltd. increased its stake in Clearwater Analytics Holdings by 34.1% in Q1, owning 5,706,337 shares worth approximately $152.93 million.
• Clearwater Analytics reported a net margin of 73.74% and a revenue of $181.94 million for the latest quarter, exceeding estimates and showing a 70.4% year-over-year increase.
• Analysts have given Clearwater Analytics a consensus buy rating with a target price averaging $32.20, reflecting positive market sentiment.

Invesco Ltd. boosted its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 34.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,706,337 shares of the company's stock after acquiring an additional 1,452,474 shares during the quarter. Invesco Ltd. owned 2.01% of Clearwater Analytics worth $152,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Clearwater Analytics by 11.3% during the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after purchasing an additional 2,366,715 shares in the last quarter. Blair William & Co. IL increased its position in shares of Clearwater Analytics by 44.4% during the first quarter. Blair William & Co. IL now owns 2,534,270 shares of the company's stock worth $67,918,000 after purchasing an additional 779,538 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Clearwater Analytics by 16.9% in the 4th quarter. Fred Alger Management LLC now owns 2,469,228 shares of the company's stock valued at $67,953,000 after acquiring an additional 357,086 shares during the period. Driehaus Capital Management LLC boosted its holdings in Clearwater Analytics by 13.8% in the fourth quarter. Driehaus Capital Management LLC now owns 2,214,452 shares of the company's stock valued at $60,942,000 after purchasing an additional 268,601 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Clearwater Analytics by 10.8% during the 4th quarter. Janus Henderson Group PLC now owns 2,112,732 shares of the company's stock worth $58,137,000 after acquiring an additional 205,803 shares in the last quarter. Institutional investors own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

CWAN stock traded down $0.0770 during midday trading on Tuesday, reaching $19.6030. 503,643 shares of the company were exchanged, compared to its average volume of 3,357,821. Clearwater Analytics Holdings, Inc. has a one year low of $17.98 and a one year high of $35.71. The business has a 50-day moving average price of $21.39 and a two-hundred day moving average price of $24.00. 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 $5.73 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 4.53 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $181.94 million for 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 firm's revenue was up 70.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Equities research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Activity at Clearwater Analytics

In related news, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $21.67, for a total value 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. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 11,275 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $19.42, for a total transaction of $218,960.50. Following the sale, the chief financial officer directly owned 343,964 shares in the company, valued at approximately $6,679,780.88. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,748 shares of company stock worth $4,549,748. 3.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CWAN. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Oppenheimer reduced their price target on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. Wells Fargo & Company dropped their price objective on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. DA Davidson decreased their price objective 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. Finally, JPMorgan Chase & Co. assumed coverage on shares of Clearwater Analytics in a research report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $32.67.

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.