Public Employees Retirement System of Ohio Cuts Stock Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Public Employees Retirement System of Ohio cut its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 24.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,705 shares of the company's stock after selling 72,398 shares during the period. Public Employees Retirement System of Ohio owned 0.09% of Clearwater Analytics worth $6,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Clearwater Analytics by 1,600.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock worth $39,690,000 after purchasing an additional 1,357,425 shares in the last quarter. Alliancebernstein L.P. boosted 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 purchasing an additional 2,931,445 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Clearwater Analytics in the 4th quarter worth approximately $1,112,000. Stephens Investment Management Group LLC boosted its stake in Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company's stock worth $34,926,000 after purchasing an additional 830,684 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in Clearwater Analytics by 32.4% in the 4th quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company's stock worth $10,634,000 after purchasing an additional 94,454 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CWAN has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Clearwater Analytics in a research note on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price for the company. Wells Fargo & Company decreased 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 note on Tuesday, April 22nd. Morgan Stanley restated an "overweight" rating and set a $36.00 price objective (up from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. began coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They set an "overweight" rating and a $28.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.40.

Clearwater Analytics Stock Performance

Shares of NYSE:CWAN traded up $0.84 during trading on Friday, hitting $23.07. 4,119,600 shares of the stock traded hands, compared to its average volume of 2,383,993. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 8.23 and a beta of 0.79. The company has a fifty day moving average price of $23.45 and a two-hundred day moving average price of $26.90. Clearwater Analytics Holdings, Inc. has a 52-week low of $17.63 and a 52-week high of $35.71.

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

Insider Activity

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

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.