Kayne Anderson Rudnick Investment Management LLC Lowers Stock Holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Kayne Anderson Rudnick Investment Management LLC lowered its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,035,027 shares of the company's stock after selling 264,521 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.47% of Clearwater Analytics worth $303,684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Clearwater Analytics by 171.4% in the 3rd quarter. FMR LLC now owns 9,169 shares of the company's stock valued at $232,000 after buying an additional 5,790 shares during the period. HighTower Advisors LLC purchased a new position in shares of Clearwater Analytics during the 3rd quarter valued at approximately $237,000. Barclays PLC lifted its stake in shares of Clearwater Analytics by 105.6% in the 3rd quarter. Barclays PLC now owns 571,860 shares of the company's stock valued at $14,439,000 after purchasing an additional 293,719 shares during the period. Sanctuary Advisors LLC boosted its holdings in Clearwater Analytics by 30.4% during the third quarter. Sanctuary Advisors LLC now owns 21,126 shares of the company's stock worth $533,000 after buying an additional 4,923 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Clearwater Analytics by 348.3% during the third quarter. Principal Financial Group Inc. now owns 84,793 shares of the company's stock valued at $2,141,000 after buying an additional 65,878 shares during the period. Institutional investors and hedge funds own 50.10% of the company's stock.

Clearwater Analytics Trading Up 0.4 %

NYSE CWAN traded up $0.09 on Friday, reaching $22.84. 1,447,035 shares of the company were exchanged, compared to its average volume of 2,149,057. 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 business's fifty day moving average price is $26.30 and its 200 day moving average price is $27.66. The stock has a market capitalization of $5.73 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.62 and a fifty-two week 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 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 firm had revenue of $126.47 million during the quarter, compared to analysts' expectations of $120.34 million. Analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Transactions at Clearwater Analytics

In other news, insider Subi Sethi sold 62,482 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $1,878,833.74. Following the sale, the insider now directly owns 144,973 shares of the company's stock, valued at approximately $4,359,338.11. The trade was a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $27.33, for a total transaction of $511,071.00. Following the transaction, the chief financial officer now directly owns 274,857 shares of the company's stock, valued at $7,511,841.81. The trade was a 6.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock worth $18,478,363 in the last 90 days. Insiders own 4.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CWAN. Morgan Stanley reiterated an "overweight" rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a research report on Friday, February 21st. UBS Group increased their price target on Clearwater Analytics from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. DA Davidson upgraded Clearwater Analytics from a "neutral" rating to a "buy" rating and cut their price objective for the company from $35.00 to $32.00 in a research report on Tuesday, January 14th. Piper Sandler upgraded Clearwater Analytics from a "neutral" rating to an "overweight" rating and increased their target price for the company from $28.00 to $36.00 in a research report on Thursday, February 20th. Finally, Royal Bank of Canada increased their price objective on shares of Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Clearwater Analytics presently has a consensus rating of "Moderate Buy" and an average target price of $32.80.

Clearwater Analytics 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.