Vestcor Inc Acquires New Shares in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Vestcor Inc opened a new position in Clearwater Analytics, buying 205,000 shares worth about $4.95 million in the fourth quarter.
• Several other institutional investors also increased or initiated stakes, and institutions now own about 50.10% of Clearwater Analytics.
• The company reported Q1 earnings of $0.16 per share, matching estimates, while revenue rose 74.4% year over year to $221.23 million; analysts currently rate the stock a Hold with a consensus target of $26.17.

Vestcor Inc acquired a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 205,000 shares of the company's stock, valued at approximately $4,945,000. Vestcor Inc owned approximately 0.07% of Clearwater Analytics as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Ovata Capital Management Ltd bought a new stake in shares of Clearwater Analytics in the 4th quarter valued at $6,811,000. State of Wyoming increased its position in shares of Clearwater Analytics by 216.0% in the 4th quarter. State of Wyoming now owns 55,591 shares of the company's stock valued at $1,341,000 after buying an additional 37,998 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Clearwater Analytics in the 4th quarter valued at $214,000. Bank of New York Mellon Corp increased its position in shares of Clearwater Analytics by 6.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,253,572 shares of the company's stock valued at $30,236,000 after buying an additional 79,050 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Clearwater Analytics by 25.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,287,261 shares of the company's stock valued at $79,289,000 after buying an additional 659,168 shares in the last quarter. Institutional investors own 50.10% of the company's stock.

Insider Activity at Clearwater Analytics

In other news, CTO Souvik Das sold 14,686 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $23.80, for a total transaction of $349,526.80. Following the completion of the transaction, the chief technology officer directly owned 210,109 shares in the company, valued at $5,000,594.20. This represents a 6.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Scott Stanley Erickson sold 18,790 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $23.80, for a total transaction of $447,202.00. Following the transaction, the executive owned 155,119 shares of the company's stock, valued at approximately $3,691,832.20. This represents a 10.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 194,332 shares of company stock worth $4,624,562. Corporate insiders own 3.31% of the company's stock.

Clearwater Analytics Price Performance

CWAN stock opened at $24.38 on Friday. The stock has a 50-day moving average price of $24.15 and a two-hundred day moving average price of $23.49. The stock has a market cap of $7.28 billion, a PE ratio of -135.41, a price-to-earnings-growth ratio of 3.35 and a beta of 0.60. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.39. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.73 and a 1 year high of $25.07.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. Clearwater Analytics had a negative net margin of 5.88% and a positive return on equity of 3.17%. The company had revenue of $221.23 million during the quarter, compared to the consensus estimate of $214.09 million. During the same period in the prior year, the business posted $0.13 EPS. The company's quarterly revenue was up 74.4% on a year-over-year basis. Equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on CWAN. Royal Bank Of Canada restated a "sector perform" rating and issued a $24.55 price objective (down from $36.00) on shares of Clearwater Analytics in a research report on Wednesday, February 25th. DA Davidson restated a "neutral" rating and issued a $24.55 price objective on shares of Clearwater Analytics in a research report on Wednesday, May 20th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Clearwater Analytics in a research report on Friday, May 22nd. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.17.

About Clearwater Analytics

Clearwater Analytics LLC is a global provider of web-based investment portfolio accounting, reporting, and analytics solutions. The company's software-as-a-service platform automates complex processes involved in investment data aggregation, reconciliation, valuation, and regulatory reporting. Serving institutional investors—including insurers, asset managers, corporations, government entities, and asset owners—Clearwater Analytics enables clients to optimize performance visibility, risk management, and operational efficiency.

Founded in 2004 and headquartered in Boise, Idaho, Clearwater Analytics has grown its global footprint with offices across North America, Europe, and the Asia-Pacific region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.