New York State Common Retirement Fund Has $36.60 Million Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

New York State Common Retirement Fund lessened its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,365,651 shares of the company's stock after selling 40,684 shares during the period. New York State Common Retirement Fund owned about 0.54% of Clearwater Analytics worth $36,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CWAN. Wellington Management Group LLP increased its stake in Clearwater Analytics by 98.2% during the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock valued at $163,867,000 after purchasing an additional 2,950,555 shares during the last quarter. Alliancebernstein L.P. increased its stake in Clearwater Analytics by 66.0% during the fourth quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after purchasing an additional 2,931,445 shares during the last quarter. Vanguard Group Inc. increased its stake in Clearwater Analytics by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock valued at $574,607,000 after purchasing an additional 2,455,844 shares during the last quarter. Norges Bank bought a new stake in Clearwater Analytics during the fourth quarter valued at $59,402,000. Finally, Blair William & Co. IL increased its stake in Clearwater Analytics by 3,835.2% during the fourth quarter. Blair William & Co. IL now owns 1,754,732 shares of the company's stock valued at $48,290,000 after purchasing an additional 1,710,141 shares during the last quarter. Institutional investors own 50.10% of the company's stock.

Clearwater Analytics Price Performance

CWAN stock traded down $0.29 during trading on Friday, hitting $21.44. The company had a trading volume of 1,823,324 shares, compared to its average volume of 3,141,135. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 4.44 and a beta of 0.74. The business has a 50 day moving average of $22.65 and a 200 day moving average of $25.16. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $19.46 and a fifty-two week high of $35.71. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.04.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $126.86 million during the quarter, compared to the consensus estimate of $125.11 million. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The company's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. As a group, research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on CWAN shares. Oppenheimer lowered their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. JPMorgan Chase & Co. initiated coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They set an "overweight" rating and a $28.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Clearwater Analytics in a report on Monday, May 19th. They set a "neutral" rating and a $26.00 price target for the company. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. Finally, Wells Fargo & Company reduced their price target on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.90.

Insiders Place Their Bets

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total value of $420,750.00. Following the completion of the sale, the chief financial officer directly owned 348,964 shares of the company's stock, valued at approximately $7,851,690. This represents a 5.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Souvik Das sold 5,273 shares of the company'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 $114,265.91. Following the completion of the sale, the chief technology officer directly owned 142,549 shares of the company's stock, valued at $3,089,036.83. The trade was a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,107 shares of company stock valued at $5,844,208. Corporate insiders own 3.31% of the company's stock.

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.