Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC raised its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 118.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,751,540 shares of the company’s stock after acquiring an additional 949,290 shares during the period. TimesSquare Capital Management LLC owned approximately 0.72% of Clearwater Analytics worth $35,083,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CWAN. Allspring Global Investments Holdings LLC increased its holdings in Clearwater Analytics by 65.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after purchasing an additional 1,335,802 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Clearwater Analytics by 13.8% in the third quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock valued at $182,780,000 after buying an additional 1,148,338 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Clearwater Analytics in the 3rd quarter valued at $19,506,000. Shannon River Fund Management LLC acquired a new position in Clearwater Analytics during the 3rd quarter worth about $11,673,000. Finally, Comerica Bank acquired a new position in Clearwater Analytics during the 3rd quarter worth about $9,059,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Clearwater Analytics Stock Up 2.2 %

Shares of CWAN stock traded up $0.40 on Wednesday, reaching $18.05. 876,621 shares of the stock were exchanged, compared to its average volume of 1,224,315. Clearwater Analytics Holdings, Inc. has a twelve month low of $14.47 and a twelve month high of $21.89. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of -225.56, a PEG ratio of 7.85 and a beta of 0.50. The business’s 50 day moving average price is $16.89 and its 200 day moving average price is $18.64.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The business had revenue of $102.70 million during the quarter, compared to analysts’ expectations of $100.55 million. During the same period in the prior year, the firm posted $0.07 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, sell-side analysts expect that Clearwater Analytics Holdings, Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CWAN shares. DA Davidson reiterated a “buy” rating and set a $24.00 price target on shares of Clearwater Analytics in a research note on Monday, February 5th. Wells Fargo & Company cut their target price on shares of Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $19.00 target price on shares of Clearwater Analytics in a report on Thursday, May 2nd. Piper Sandler restated a “neutral” rating and issued a $20.00 price target on shares of Clearwater Analytics in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut their price objective on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average price target of $21.70.

Insider Activity at Clearwater Analytics

In related news, CEO Sandeep Sahai sold 50,000 shares of Clearwater Analytics stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $987,000.00. Following the sale, the chief executive officer now directly owns 270,838 shares in the company, valued at approximately $5,346,342.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of Clearwater Analytics stock in a transaction on Monday, March 11th. The shares were sold at an average price of $16.90, for a total value of $274,625,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sandeep Sahai sold 50,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.74, for a total transaction of $987,000.00. Following the completion of the sale, the chief executive officer now owns 270,838 shares of the company’s stock, valued at approximately $5,346,342.12. The disclosure for this sale can be found here. Insiders sold 16,310,000 shares of company stock valued at $275,809,400 over the last three months. 2.10% of the stock is owned by corporate insiders.

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.