Kayne Anderson Rudnick Investment Management LLC Sells 264,521 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Kayne Anderson Rudnick Investment Management LLC decreased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,035,027 shares of the company's stock after selling 264,521 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 4.47% of Clearwater Analytics worth $303,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Clearwater Analytics by 1,600.9% in the fourth quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock valued at $39,690,000 after purchasing an additional 1,357,425 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Clearwater Analytics by 66.0% in the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock worth $202,931,000 after acquiring an additional 2,931,445 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Clearwater Analytics during the 4th quarter worth about $1,112,000. Stephens Investment Management Group LLC boosted its position in Clearwater Analytics by 189.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company's stock worth $34,926,000 after acquiring an additional 830,684 shares during the period. Finally, Moody Aldrich Partners LLC grew its stake in Clearwater Analytics by 32.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company's stock valued at $10,634,000 after acquiring an additional 94,454 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

Shares of CWAN traded down $0.38 during mid-day trading on Wednesday, hitting $22.02. The company's stock had a trading volume of 2,996,334 shares, compared to its average volume of 2,362,870. The stock's 50-day moving average is $23.64 and its two-hundred day moving average is $27.01. The firm has a market capitalization of $6.24 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 8.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics Holdings, Inc. has a one year low of $17.63 and a one year high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business had revenue of $126.86 million for the quarter, compared to the consensus estimate of $125.11 million. During the same quarter last year, the company posted $0.10 earnings per share. Clearwater Analytics's quarterly revenue was up 23.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling

In other news, CRO Scott Stanley Erickson sold 4,141 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $27.65, for a total value of $114,498.65. Following the completion of the transaction, the executive now owns 7,902 shares in the company, valued at approximately $218,490.30. This represents a 34.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen A. Corbet sold 12,634 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total transaction of $298,920.44. Following the transaction, the director now directly owns 14,498 shares of the company's stock, valued at $343,022.68. The trade was a 46.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,175 shares of company stock valued at $5,040,744 over the last three months. 3.31% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CWAN shares. Piper Sandler lowered their price objective on shares of Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada increased their target price on shares of Clearwater Analytics from $30.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. UBS Group increased their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Wells Fargo & Company lowered their target price on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. began coverage on Clearwater Analytics in a research report on Friday, April 25th. They issued an "overweight" rating and a $28.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.40.

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.