Teacher Retirement System of Texas Acquires 25,356 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Teacher Retirement System of Texas boosted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 31.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,849 shares of the company's stock after buying an additional 25,356 shares during the period. Teacher Retirement System of Texas' holdings in Clearwater Analytics were worth $2,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position 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 during the last quarter. Alliancebernstein L.P. increased its position 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 during the last quarter. Wellington Management Group LLP increased its position 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 during the last quarter. JPMorgan Chase & Co. boosted its stake 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 worth $126,972,000 after acquiring an additional 1,585,869 shares in the last quarter. Finally, Invesco Ltd. boosted its stake 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 worth $117,066,000 after acquiring an additional 352,201 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 sale, the insider directly owned 218,788 shares of the company's stock, valued at $4,741,135.96. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James S. Cox sold 5,858 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 $126,942.86. Following the sale, the chief financial officer directly owned 353,964 shares in the company, valued at $7,670,399.88. This trade represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 239,407 shares of company stock valued at $5,482,987. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Stock Performance

Shares of CWAN stock traded up $0.33 during mid-day trading on Wednesday, reaching $22.58. The stock had a trading volume of 3,599,070 shares, compared to its average volume of 2,564,296. The firm's 50 day simple moving average is $22.76 and its 200 day simple moving average is $25.44. 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 Holdings, Inc. has a one year low of $17.63 and a one year high of $35.71. The firm has a market cap of $6.40 billion, a PE ratio of 13.44, a P/E/G ratio of 4.45 and a beta of 0.74.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler set a $27.00 price target on Clearwater Analytics and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. started coverage on Clearwater Analytics in a research note on Friday, April 25th. They set an "overweight" rating and a $28.00 price target for the company. The Goldman Sachs Group started coverage on Clearwater Analytics in a research note on Monday, May 19th. They set a "neutral" rating and a $26.00 target price for the company. Finally, Oppenheimer decreased their target price on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. One 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 currently has a consensus rating of "Moderate Buy" and an average target price of $31.90.

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.