Raymond James Financial Inc. Grows Stock Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Raymond James Financial Inc. increased its stake in Clearwater Analytics holdings by 165.9%, acquiring 1,234,791 shares to own approximately 0.70% of the company, worth around $53 million.
• Several institutional investors have also changed their positions in Clearwater Analytics, with a combined total of 50.10% of the stock owned by institutional investors.
• Despite a recent earnings miss, Clearwater Analytics has a positive outlook with nine investment analysts rating the stock as a Buy and a consensus target price of $32.67.

Raymond James Financial Inc. increased its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 165.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,979,061 shares of the company's stock after acquiring an additional 1,234,791 shares during the quarter. Raymond James Financial Inc. owned approximately 0.70% of Clearwater Analytics worth $53,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Zevenbergen Capital Investments LLC raised its stake in Clearwater Analytics by 48.6% during the first quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company's stock worth $24,373,000 after purchasing an additional 297,414 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Clearwater Analytics during the 1st quarter worth approximately $314,000. Vanguard Group Inc. raised its position 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 valued at $623,001,000 after buying an additional 2,366,715 shares during the period. Yorktown Management & Research Co Inc acquired a new position in Clearwater Analytics in the first quarter valued at approximately $409,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Clearwater Analytics in the fourth quarter worth approximately $8,580,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $19.42, for a total value of $218,960.50. Following the completion of the transaction, the chief financial officer owned 343,964 shares in the company, valued at $6,679,780.88. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Souvik Das sold 10,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the chief technology officer owned 132,549 shares in the company, valued at approximately $2,650,980. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,786 shares of company stock valued at $4,810,539 in the last 90 days. Corporate insiders own 3.31% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CWAN. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Oppenheimer cut their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. DA Davidson reduced their price objective 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. Finally, The Goldman Sachs Group raised 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 research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Clearwater Analytics presently has a consensus rating of "Buy" and a consensus target price of $32.67.

Clearwater Analytics Trading Up 6.3%

CWAN traded up $1.2390 during mid-day trading on Friday, hitting $20.8390. 4,962,326 shares of the stock were exchanged, compared to its average volume of 4,949,885. The firm's fifty day moving average is $21.13 and its two-hundred day moving average is $23.75. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.98 and a 1-year high of $35.71. The company has a market cap of $6.09 billion, a PE ratio of 130.31, a PEG ratio of 4.91 and a beta of 0.73. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.44.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its 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). The firm had revenue of $181.94 million during the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business's revenue was up 70.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. Equities analysts forecast 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.