Royce & Associates LP Has $3.38 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Key Points

• Royce & Associates LP increased its stake in Clearwater Analytics Holdings by 44.9%, acquiring a total of 126,030 shares worth approximately $3.38 million.
• Clearwater Analytics has seen significant interest from institutional investors, with 50.10% of its stock now held by hedge funds and other entities, reflecting growing confidence in the company.
• Recent analyst reports have varied, with target prices ranging from $26.00 to $36.00, and a consensus rating of "Moderate Buy" with a target price of $31.90.

Royce & Associates LP lifted its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 44.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,030 shares of the company's stock after acquiring an additional 39,030 shares during the period. Royce & Associates LP owned approximately 0.05% of Clearwater Analytics worth $3,378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted 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 worth $574,607,000 after buying an additional 2,455,844 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Clearwater Analytics by 66.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,373,942 shares of the company's stock valued at $202,931,000 after acquiring an additional 2,931,445 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Clearwater Analytics by 98.2% during the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock valued at $163,867,000 after acquiring an additional 2,950,555 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Clearwater Analytics by 52.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company's stock valued at $126,972,000 after acquiring an additional 1,585,869 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Clearwater Analytics by 9.0% during the 4th quarter. Invesco Ltd. now owns 4,253,863 shares of the company's stock valued at $117,066,000 after acquiring an additional 352,201 shares in the last quarter. Institutional investors and hedge funds own 50.10% of the company's stock.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, Director Kathleen A. Corbet sold 12,634 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the transaction, the director owned 14,498 shares of the company's stock, valued at approximately $343,022.68. This represents a 46.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Subi Sethi sold 7,358 shares of the stock in a transaction that occurred on 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 owned 218,788 shares in the company, valued at $4,741,135.96. This represents a 3.25% 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. 3.31% of the stock is currently owned by corporate insiders.

Clearwater Analytics Trading Down 1.0%

NYSE:CWAN traded down $0.21 during trading hours on Thursday, hitting $20.65. 869,210 shares of the stock were exchanged, compared to its average volume of 3,147,443. The company's 50 day moving average is $22.23 and its two-hundred day moving average is $24.81. Clearwater Analytics Holdings, Inc. has a twelve month low of $19.46 and a twelve month high of $35.71. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $5.85 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 4.22 and a beta of 0.74.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Clearwater Analytics had a return on equity of 5.22% and a net margin of 90.18%. The business had revenue of $126.86 million for the quarter, compared to analyst estimates of $125.11 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The firm's revenue for the quarter was up 23.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.