Bank of New York Mellon Corp Buys 328,542 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Bank of New York Mellon Corp increased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,040,188 shares of the company's stock after acquiring an additional 328,542 shares during the period. Bank of New York Mellon Corp owned approximately 0.42% of Clearwater Analytics worth $28,626,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CWAN. Champlain Investment Partners LLC acquired a new stake in Clearwater Analytics in the third quarter worth about $53,559,000. Principal Financial Group Inc. grew its holdings in shares of Clearwater Analytics by 1,600.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock worth $39,690,000 after acquiring an additional 1,357,425 shares during the last quarter. State Street Corp raised its holdings in Clearwater Analytics by 38.7% during the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company's stock worth $91,341,000 after buying an additional 1,009,548 shares during the period. Stephens Investment Management Group LLC lifted its position in shares of Clearwater Analytics by 189.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company's stock valued at $34,926,000 after acquiring an additional 830,684 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of Clearwater Analytics by 3.2% in the third quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company's stock worth $457,909,000 after buying an additional 559,564 shares during the period. Institutional investors own 50.10% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

CWAN has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. DA Davidson upgraded shares of Clearwater Analytics from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $35.00 to $32.00 in a report on Tuesday, January 14th. Piper Sandler raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $28.00 to $36.00 in a research report on Thursday, February 20th. Finally, UBS Group increased their price objective on Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Clearwater Analytics currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.80.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, insider Subi Sethi sold 62,482 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $1,878,833.74. Following the completion of the transaction, the insider now owns 144,973 shares of the company's stock, valued at $4,359,338.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James S. Cox sold 18,700 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.65, for a total value of $554,455.00. Following the completion of the sale, the chief financial officer now owns 214,044 shares of the company's stock, valued at $6,346,404.60. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 594,510 shares of company stock worth $17,418,271. 4.60% of the stock is currently owned by company insiders.

Clearwater Analytics Stock Performance

NYSE:CWAN traded down $0.03 during mid-day trading on Wednesday, hitting $27.51. 2,517,059 shares of the company's stock traded hands, compared to its average volume of 2,501,459. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $28.35 and a two-hundred day moving average of $27.69. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $35.71.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company had revenue of $126.47 million during the quarter, compared to analyst estimates of $120.34 million. On average, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal 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.