Sciencast Management LP Grows Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Sciencast Management LP increased its holdings in Clearwater Analytics by 72.2% in Q1, bringing its total shares to 87,074 valued at $2.33 million.
• Clearwater Analytics' CEO sold 46,962 shares for approximately $944,875, resulting in a 4.98% decrease in his ownership position.
• The company announced a $100 million stock buyback program, indicating management's belief that its stock is undervalued.

Sciencast Management LP increased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 72.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,074 shares of the company's stock after acquiring an additional 36,510 shares during the quarter. Sciencast Management LP's holdings in Clearwater Analytics were worth $2,334,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nvwm LLC bought a new position in shares of Clearwater Analytics in the first quarter valued at approximately $46,000. Quarry LP boosted its position in shares of Clearwater Analytics by 979.4% in the first quarter. Quarry LP now owns 2,094 shares of the company's stock valued at $56,000 after acquiring an additional 1,900 shares during the period. CWM LLC boosted its position in shares of Clearwater Analytics by 714.6% in the first quarter. CWM LLC now owns 3,071 shares of the company's stock valued at $82,000 after acquiring an additional 2,694 shares during the period. Portside Wealth Group LLC bought a new position in shares of Clearwater Analytics in the first quarter valued at approximately $206,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Clearwater Analytics in the first quarter valued at approximately $208,000. 50.10% of the stock is currently owned by institutional investors.

Clearwater Analytics Trading Down 1.5%

Shares of NYSE CWAN traded down $0.29 during mid-day trading on Friday, hitting $19.61. The stock had a trading volume of 3,070,687 shares, compared to its average volume of 3,829,677. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.98 and a 1 year high of $35.71. The business has a 50 day moving average price of $20.60 and a two-hundred day moving average price of $22.92. The firm has a market cap of $5.73 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 5.04 and a beta of 0.73.

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

Clearwater Analytics declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research upgraded shares of Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Piper Sandler set a $27.00 target price on shares of Clearwater Analytics and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Oppenheimer dropped 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 report on Wednesday, June 11th. DA Davidson dropped their target price on shares of Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. 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 for the company in a research report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Clearwater Analytics has an average rating of "Moderate Buy" and a consensus price target of $32.67.

Insider Activity

In related news, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction on Monday, June 30th. The shares were sold at an average price of $21.67, for a total value of $159,447.86. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $22.50, for a total transaction of $420,750.00. Following the completion of the transaction, the chief financial officer directly owned 348,964 shares in the company, valued at approximately $7,851,690. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,748 shares of company stock valued at $4,848,614 in the last three months. Corporate insiders own 3.31% of the company's stock.

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.