Zevenbergen Capital Investments LLC Increases Stock Holdings 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 increased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 50.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,366,580 shares of the company's stock after buying 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CWAN. Bank of America Corp DE lifted its position in shares of Clearwater Analytics by 39.5% during the 4th quarter. Bank of America Corp DE now owns 809,924 shares of the company's stock valued at $22,289,000 after buying an additional 229,524 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Clearwater Analytics by 52.9% during the 4th quarter. Captrust Financial Advisors now owns 21,892 shares of the company's stock valued at $602,000 after buying an additional 7,573 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Clearwater Analytics by 60.7% during the 4th quarter. Cetera Investment Advisers now owns 14,243 shares of the company's stock valued at $392,000 after buying an additional 5,379 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in shares of Clearwater Analytics by 36.4% during the 4th quarter. Ensign Peak Advisors Inc now owns 50,880 shares of the company's stock valued at $1,400,000 after buying an additional 13,580 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of Clearwater Analytics during the 4th quarter valued at approximately $414,000. Hedge funds and other institutional investors own 50.10% of the company's stock.

Clearwater Analytics Stock Down 1.5%

NYSE CWAN opened at $19.61 on Friday. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.98 and a 52 week high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The business's fifty day simple moving average is $20.60 and its 200-day simple moving average is $22.92. The firm has a market cap of $5.73 billion, a PE ratio of 12.33, a P/E/G ratio of 5.04 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The company had revenue of $181.94 million for the quarter, compared to analysts' expectations of $174.16 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The firm's revenue was up 70.4% on a year-over-year basis. As a group, equities analysts anticipate 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 program on Wednesday, September 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CWAN. The Goldman Sachs Group upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a research report on Monday, August 11th. Zacks Research upgraded Clearwater Analytics from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Oppenheimer decreased their price objective on Clearwater Analytics from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. DA Davidson decreased their price objective on Clearwater Analytics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, Piper Sandler set a $27.00 price objective on Clearwater Analytics and gave the company an "overweight" rating in a report on Tuesday, June 24th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.67.

Insider Buying and Selling

In related news, CEO Sandeep Sahai sold 46,962 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $20.12, for a total transaction of $944,875.44. Following the completion of the sale, the chief executive officer directly owned 895,663 shares of the company's stock, valued at approximately $18,020,739.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James S. Cox sold 11,275 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $19.42, for a total value of $218,960.50. Following the sale, the chief financial officer directly owned 343,964 shares of the company's stock, valued at $6,679,780.88. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,748 shares of company stock valued at $4,848,614. 3.31% of the stock is currently owned by insiders.

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.

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