Wealth Enhancement Advisory Services LLC Buys New Shares in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,704 shares of the company's stock, valued at approximately $314,000.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Clearwater Analytics during the 4th quarter worth approximately $82,000. OFI Invest Asset Management acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at $88,000. Assetmark Inc. acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at $111,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at $116,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Clearwater Analytics in the 4th quarter valued at $116,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CWAN shares. The Goldman Sachs Group started coverage on shares of Clearwater Analytics in a report on Monday, May 19th. They issued a "neutral" rating and a $26.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a report on Friday, April 25th. They issued an "overweight" rating and a $28.00 target price on the stock. Oppenheimer cut their target price on shares of Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a 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 report on Tuesday, June 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Clearwater Analytics from $35.00 to $32.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $31.90.

Insider Activity

In related news, CTO Souvik Das sold 5,273 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $21.67, for a total transaction of $114,265.91. Following the completion of the sale, the chief technology officer directly 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, CEO Sandeep Sahai sold 50,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $22.25, for a total transaction of $1,112,500.00. Following the transaction, the chief executive officer directly owned 876,754 shares of the company's stock, valued at approximately $19,507,776.50. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,407 shares of company stock valued at $5,482,987 in the last ninety days. 3.31% of the stock is owned by company insiders.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN traded down $0.01 on Tuesday, reaching $22.25. 4,014,106 shares of the company were exchanged, compared to its average volume of 2,557,107. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.04. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.63 and a 1-year high of $35.71. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 4.43 and a beta of 0.74. The company has a 50-day moving average of $22.77 and a 200-day moving average of $25.46.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results 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. Clearwater Analytics had a net margin of 90.18% and a return on equity of 5.22%. The business 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 company posted $0.10 EPS. The business's revenue for the quarter was up 23.5% on a year-over-year basis. Equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

About Clearwater Analytics

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.