William Blair Investment Management LLC Lowers Stock Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• William Blair Investment Management LLC reduced its stake in Clearwater Analytics by 0.3%, owning 8,812,876 shares valued at approximately $193.27 million after selling 26,784 shares in the second quarter.
• Clearwater Analytics reported a quarterly earnings miss with $0.12 EPS, falling short of analysts' expectations by $0.01, despite a significant revenue increase of 70.4% year-over-year.
• The company's Board of Directors authorized a $100 million stock repurchase program, indicating a belief that its shares may be undervalued.

William Blair Investment Management LLC trimmed its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,812,876 shares of the company's stock after selling 26,784 shares during the quarter. William Blair Investment Management LLC owned approximately 3.11% of Clearwater Analytics worth $193,266,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Clearwater Analytics by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company's stock valued at $623,001,000 after acquiring an additional 2,366,715 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Clearwater Analytics during the 1st quarter worth $56,648,000. Nuveen LLC bought a new stake in Clearwater Analytics during the first quarter valued at about $53,894,000. Riverbridge Partners LLC bought a new stake in Clearwater Analytics during the second quarter valued at about $35,313,000. Finally, Invesco Ltd. grew its stake in Clearwater Analytics by 34.1% in the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company's stock valued at $152,930,000 after purchasing an additional 1,452,474 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company's stock.

Analyst Ratings Changes

CWAN has been the subject of several analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday, September 17th. The Goldman Sachs Group raised 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. Wall Street Zen lowered shares of Clearwater Analytics from a "hold" rating to a "sell" rating in a report on Saturday. Zacks Research raised Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Clearwater Analytics in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Clearwater Analytics currently has an average rating of "Moderate Buy" and an average price target of $32.67.

Clearwater Analytics Price Performance

Shares of CWAN opened at $17.99 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The company's fifty day moving average price is $19.07 and its 200-day moving average price is $21.29. Clearwater Analytics Holdings, Inc. has a 1-year low of $17.15 and a 1-year high of $35.71. The firm has a market capitalization of $5.26 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 4.59 and a beta of 0.69.

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

Clearwater Analytics announced that its Board of Directors has authorized a stock repurchase program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at Clearwater Analytics

In related news, insider Subi Sethi sold 7,434 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $131,433.12. Following the transaction, the insider owned 226,980 shares in the company, valued at approximately $4,013,006.40. This represents a 3.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Scott Stanley Erickson sold 4,505 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $79,648.40. Following the transaction, the executive directly owned 19,552 shares of the company's stock, valued at $345,679.36. This represents a 18.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,602 shares of company stock valued at $2,756,283 over the last quarter. Company 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.

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