Zevenbergen Capital Investments LLC Has $29.97 Million Position in Clearwater Analytics Holdings, Inc. $CWAN

Key Points

• Zevenbergen Capital Investments LLC increased its stake in Clearwater Analytics Holdings, Inc. by 50.3%, owning 1,366,580 shares valued at approximately $29.97 million as of its latest SEC filing.
• Clearwater Analytics announced a $100 million share buyback program, indicating confidence in the company's stock value as management perceives it to be undervalued.
• The company's recent earnings report showed a revenue increase of 70.4% year-over-year, with a miss on EPS, reporting $0.12 compared to the expected $0.13.

Zevenbergen Capital Investments LLC grew its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 50.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366,580 shares of the company's stock after acquiring an additional 457,151 shares during the period. Zevenbergen Capital Investments LLC owned about 0.48% of Clearwater Analytics worth $29,969,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Apollon Wealth Management LLC grew its stake in shares of Clearwater Analytics by 3.9% during the first quarter. Apollon Wealth Management LLC now owns 12,341 shares of the company's stock valued at $331,000 after acquiring an additional 459 shares in the last quarter. Huntleigh Advisors Inc. grew its stake in shares of Clearwater Analytics by 1.9% during the first quarter. Huntleigh Advisors Inc. now owns 32,211 shares of the company's stock valued at $863,000 after acquiring an additional 595 shares in the last quarter. Redwood Investments LLC lifted its position in shares of Clearwater Analytics by 0.8% during the first quarter. Redwood Investments LLC now owns 74,651 shares of the company's stock worth $2,001,000 after purchasing an additional 608 shares during the last quarter. Abacus FCF Advisors LLC lifted its position in shares of Clearwater Analytics by 2.8% during the first quarter. Abacus FCF Advisors LLC now owns 25,140 shares of the company's stock worth $674,000 after purchasing an additional 682 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Clearwater Analytics by 7.3% during the first quarter. Cerity Partners LLC now owns 11,598 shares of the company's stock worth $311,000 after purchasing an additional 793 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CWAN has been the topic of several research analyst reports. Piper Sandler set a $27.00 price target on shares of Clearwater Analytics and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Zacks Research raised shares of Clearwater Analytics from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $36.00 price target on shares of Clearwater Analytics in a research report on Wednesday. The Goldman Sachs Group raised shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Monday, August 11th. Finally, 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. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Clearwater Analytics presently has an average rating of "Moderate Buy" and a consensus target price of $32.67.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $22.50, for a total value of $420,750.00. Following the transaction, the chief financial officer owned 348,964 shares in the company, valued at approximately $7,851,690. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Subi Sethi sold 7,358 shares of Clearwater Analytics stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $21.67, for a total transaction of $159,447.86. Following the completion of the transaction, the insider owned 218,788 shares in the company, valued at approximately $4,741,135.96. This trade represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,323 shares of company stock worth $4,652,514. 3.31% of the stock is owned by corporate insiders.

Clearwater Analytics Stock Performance

Shares of CWAN traded down $0.70 during mid-day trading on Friday, reaching $18.62. 1,922,687 shares of the company's stock traded hands, compared to its average volume of 3,448,154. Clearwater Analytics Holdings, Inc. has a 12 month low of $17.98 and a 12 month high of $35.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. The stock has a market capitalization of $5.44 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 4.85 and a beta of 0.73. The business's 50-day moving average price is $20.35 and its 200-day moving average price is $22.66.

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

Clearwater Analytics announced that its Board of Directors has initiated a share repurchase plan on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 1.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

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.