Lazard Asset Management LLC Raises Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Lazard Asset Management LLC grew its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 45.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,829 shares of the company's stock after buying an additional 20,894 shares during the period. Lazard Asset Management LLC's holdings in Clearwater Analytics were worth $1,839,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CWAN. Arcadia Investment Management Corp MI purchased a new stake in shares of Clearwater Analytics in the 4th quarter valued at approximately $57,000. R Squared Ltd purchased a new stake in shares of Clearwater Analytics in the 4th quarter valued at approximately $80,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Clearwater Analytics in the 4th quarter valued at approximately $82,000. Nisa Investment Advisors LLC boosted its position in shares of Clearwater Analytics by 174.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company's stock worth $86,000 after purchasing an additional 1,987 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of Clearwater Analytics during the 4th quarter worth approximately $88,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Insider Activity at Clearwater Analytics

In related 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 transaction, the executive now directly owns 7,902 shares of the company's stock, valued at $218,490.30. This trade represents a 34.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen A. Corbet sold 12,634 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $23.66, for a total transaction of $298,920.44. Following the completion of the transaction, the director now directly owns 14,498 shares in the company, valued at $343,022.68. This trade represents a 46.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,175 shares of company stock valued at $5,040,744 in the last ninety days. Insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Down 5.3%

Shares of CWAN traded down $1.25 during midday trading on Wednesday, reaching $22.41. The stock had a trading volume of 3,239,480 shares, compared to its average volume of 2,329,009. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.63 and a 1-year high of $35.71. The company's fifty day simple moving average is $24.17 and its two-hundred day simple moving average is $27.29. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 8.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66.

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 for the quarter, beating analysts' consensus estimates 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 analyst estimates of $125.11 million. During the same period last year, the business earned $0.10 EPS. The company's revenue was up 23.5% on a year-over-year basis. Equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered 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. UBS Group increased their price objective 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. Piper Sandler reduced their target price on shares of Clearwater Analytics from $36.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group began coverage on shares of Clearwater Analytics in a report on Monday. They set a "neutral" rating and a $26.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.