Merit Financial Group LLC Purchases Shares of 19,443 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Merit Financial Group LLC purchased a new stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,443 shares of the company’s stock, valued at approximately $389,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Clearwater Analytics by 65.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,387,928 shares of the company’s stock valued at $67,860,000 after buying an additional 1,335,802 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Clearwater Analytics by 13.8% during 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 during the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of Clearwater Analytics during the third quarter valued at about $19,506,000. TimesSquare Capital Management LLC grew its position in Clearwater Analytics by 322.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 802,250 shares of the company’s stock worth $15,516,000 after purchasing an additional 612,250 shares in the last quarter. Finally, Shannon River Fund Management LLC purchased a new stake in Clearwater Analytics in the 3rd quarter valued at about $11,673,000. 50.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $19.74, for a total value of $987,000.00. Following the sale, the chief executive officer now owns 270,838 shares of the company’s stock, valued at approximately $5,346,342.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 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 value 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 $5,346,342.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 stock was sold at an average price of $16.90, for a total value of $274,625,000.00. The disclosure for this sale can be found here. Insiders sold 16,310,000 shares of company stock valued at $275,809,400 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Clearwater Analytics Stock Performance

NYSE CWAN opened at $17.65 on Wednesday. The company’s 50 day moving average is $16.92 and its 200-day moving average is $18.64. The firm has a market cap of $4.32 billion, a P/E ratio of -220.63, a price-to-earnings-growth ratio of 7.85 and a beta of 0.50. Clearwater Analytics Holdings, Inc. has a 12-month low of $14.43 and a 12-month high of $21.89. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results 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. The firm had revenue of $102.70 million for the quarter, compared to the consensus estimate of $100.55 million. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. Sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.11 earnings per share for the current year.

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.