Stephens Investment Management Group LLC Increases Stock Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Stephens Investment Management Group LLC boosted its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 35.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,720,243 shares of the company's stock after buying an additional 451,122 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.69% of Clearwater Analytics worth $46,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CWAN. Wellington Management Group LLP raised its holdings in Clearwater Analytics by 98.2% in the 4th quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock worth $163,867,000 after purchasing an additional 2,950,555 shares in the last quarter. Alliancebernstein L.P. raised its holdings 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. Vanguard Group Inc. raised its holdings in Clearwater Analytics by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock worth $574,607,000 after purchasing an additional 2,455,844 shares in the last quarter. Norges Bank bought a new position in Clearwater Analytics in the 4th quarter worth $59,402,000. Finally, Blair William & Co. IL raised its holdings in Clearwater Analytics by 3,835.2% in the 4th quarter. Blair William & Co. IL now owns 1,754,732 shares of the company's stock worth $48,290,000 after purchasing an additional 1,710,141 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors.

Clearwater Analytics Stock Up 0.6%

Clearwater Analytics stock traded up $0.14 during trading hours on Wednesday, hitting $22.19. The stock had a trading volume of 3,330,848 shares, compared to its average volume of 2,619,215. The stock's 50-day moving average price is $22.68 and its 200-day moving average price is $25.20. The stock has a market capitalization of $6.29 billion, a P/E ratio of 129.71, a price-to-earnings-growth ratio of 4.41 and a beta of 0.74. Clearwater Analytics Holdings, Inc. has a 12-month low of $19.18 and a 12-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.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The company had revenue of $126.86 million during the quarter, compared to analyst estimates of $125.11 million. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. Equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Clearwater Analytics news, CTO Souvik Das sold 5,273 shares of Clearwater Analytics stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $114,265.91. Following the completion of the sale, the chief technology officer owned 142,549 shares of the company's stock, valued at approximately $3,089,036.83. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction on Monday, June 30th. The stock was sold at an average price of $21.67, for a total value of $159,447.86. Following the completion of the sale, the insider directly owned 218,788 shares of the company's stock, valued at approximately $4,741,135.96. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,107 shares of company stock worth $5,844,208. 3.31% of the stock is owned by corporate insiders.

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.