Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,511 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,424 shares of the company’s stock after purchasing an additional 2,511 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Clearwater Analytics were worth $429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CWAN. Bank of New York Mellon Corp boosted its holdings in Clearwater Analytics by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 588,559 shares of the company’s stock worth $11,383,000 after purchasing an additional 29,039 shares during the last quarter. Brown Advisory Inc. purchased a new position in Clearwater Analytics during the third quarter worth about $8,112,000. Allspring Global Investments Holdings LLC boosted its holdings in Clearwater Analytics by 14.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,052,126 shares of the company’s stock worth $39,688,000 after purchasing an additional 257,515 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Clearwater Analytics by 2.7% during the third quarter. Conestoga Capital Advisors LLC now owns 6,376,562 shares of the company’s stock worth $123,323,000 after purchasing an additional 166,745 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Clearwater Analytics during the third quarter worth about $2,022,000. 50.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. DA Davidson restated a “buy” rating and set a $24.00 price target on shares of Clearwater Analytics in a report on Monday, February 5th. Piper Sandler reiterated a “neutral” rating and issued a $20.00 target price on shares of Clearwater Analytics in a research note on Thursday, February 29th. Wells Fargo & Company dropped 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. Morgan Stanley reiterated an “equal weight” rating and issued a $19.00 target price on shares of Clearwater Analytics in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and a consensus target price of $21.70.

Insider Buying and Selling

In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Xii Carbon Analytics Acqu Wcas sold 16,250,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $16.90, for a total transaction of $274,625,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James S. Cox sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $19.74, for a total transaction of $197,400.00. Following the sale, the chief financial officer now directly owns 148,711 shares in the company, valued at approximately $2,935,555.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,310,000 shares of company stock valued at $275,809,400. Company insiders own 2.10% of the company’s stock.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $17.66 on Friday. The company’s 50 day moving average is $17.01 and its 200-day moving average is $18.68. Clearwater Analytics Holdings, Inc. has a 12-month low of $13.02 and a 12-month high of $21.89. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.32 billion, a P/E ratio of -220.75, a price-to-earnings-growth ratio of 6.28 and a beta of 0.50.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Clearwater Analytics had a negative net margin of 3.90% and a positive return on equity of 1.26%. The company had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current 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.