Nuveen LLC Buys Shares of 2,010,961 Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Nuveen LLC has made a new investment in Clearwater Analytics by acquiring approximately $53.89 million in shares, amounting to around 2 million shares, now owning about 0.71% of the company.
• Clearwater Analytics recently reported quarterly earnings, missing analysts' expected EPS of $0.13 by $0.01, although revenue increased by 70.4% year over year.
• The stock currently has a consensus rating of "Buy" among analysts, with a target price averaging $32.20.

Nuveen LLC acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,010,961 shares of the company's stock, valued at approximately $53,894,000. Nuveen LLC owned about 0.71% of Clearwater Analytics at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 buying an additional 2,366,715 shares during the last quarter. Invesco Ltd. lifted its stake in Clearwater Analytics by 34.1% in the 1st quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock valued at $152,930,000 after purchasing an additional 1,452,474 shares during the last quarter. Blair William & Co. IL raised its holdings in Clearwater Analytics by 44.4% in the 1st quarter. Blair William & Co. IL now owns 2,534,270 shares of the company's stock valued at $67,918,000 after acquiring an additional 779,538 shares during the period. Fred Alger Management LLC raised its holdings in 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. Finally, Driehaus Capital Management LLC raised its holdings in Clearwater Analytics by 13.8% in the 4th quarter. Driehaus Capital Management LLC now owns 2,214,452 shares of the company's stock valued at $60,942,000 after acquiring an additional 268,601 shares during the period. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Clearwater Analytics

In other news, insider Subi Sethi sold 7,358 shares of the business'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 completion of the sale, the insider directly owned 218,788 shares of the company's stock, valued at $4,741,135.96. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sandeep Sahai sold 50,000 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $22.15, for a total transaction of $1,107,500.00. Following the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at approximately $19,838,935.45. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,748 shares of company stock valued at $4,549,748 over the last quarter. 3.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CWAN. DA Davidson lowered their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Oppenheimer decreased their price objective on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. JPMorgan Chase & Co. assumed coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They issued an "overweight" rating and a $28.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a research report on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Clearwater Analytics currently has an average rating of "Buy" and a consensus price target of $32.67.

Clearwater Analytics Stock Down 0.5%

CWAN traded down $0.09 during midday trading on Tuesday, hitting $19.59. The company had a trading volume of 518,200 shares, compared to its average volume of 3,357,821. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. 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 company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 4.53 and a beta of 0.73. The stock's 50 day moving average price is $21.39 and its 200 day moving average price is $24.00.

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

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.