Alliancebernstein L.P. Purchases 2,931,445 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Alliancebernstein L.P. boosted its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 66.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,373,942 shares of the company's stock after purchasing an additional 2,931,445 shares during the quarter. Alliancebernstein L.P. owned about 2.99% of Clearwater Analytics worth $202,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Clearwater Analytics by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 20,879,597 shares of the company's stock worth $574,607,000 after buying an additional 2,455,844 shares during the period. Wellington Management Group LLP increased its stake in Clearwater Analytics by 98.2% in the fourth quarter. Wellington Management Group LLP now owns 5,954,485 shares of the company's stock valued at $163,867,000 after purchasing an additional 2,950,555 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Clearwater Analytics by 52.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,613,815 shares of the company's stock worth $126,972,000 after purchasing an additional 1,585,869 shares during the period. State Street Corp boosted its position in shares of Clearwater Analytics by 38.7% during the third quarter. State Street Corp now owns 3,617,462 shares of the company's stock worth $91,341,000 after purchasing an additional 1,009,548 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Clearwater Analytics by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,512,511 shares of the company's stock valued at $88,710,000 after buying an additional 187,881 shares during the period. 50.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CWAN shares. Piper Sandler upgraded Clearwater Analytics from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. Wells Fargo & Company increased their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. UBS Group lifted their price target on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Morgan Stanley reissued an "overweight" rating and set a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. Finally, Royal Bank of Canada boosted their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $33.80.

Clearwater Analytics Stock Down 6.4 %

Shares of NYSE CWAN traded down $1.61 during mid-day trading on Friday, hitting $23.45. The company had a trading volume of 2,394,862 shares, compared to its average volume of 2,047,590. Clearwater Analytics Holdings, Inc. has a one year low of $15.62 and a one year high of $35.71. The company has a market capitalization of $5.89 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76. 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 simple moving average of $28.01 and a two-hundred day simple moving average of $27.97.

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

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 4,141 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $27.65, for a total transaction of $114,498.65. Following the completion of the sale, the executive now owns 7,902 shares of the company's stock, valued at $218,490.30. This trade represents a 34.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Subi Sethi sold 62,482 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the transaction, the insider now owns 144,973 shares in the company, valued at approximately $4,359,338.11. This represents a 30.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 644,510 shares of company stock worth $18,688,862 in the last ninety days. Insiders own 4.60% of the company's stock.

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.