Intech Investment Management LLC Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Intech Investment Management LLC purchased a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 28,411 shares of the company's stock, valued at approximately $717,000.

Other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company's stock valued at $30,000 after acquiring an additional 1,234 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Clearwater Analytics in the 3rd quarter valued at about $45,000. Financial Management Professionals Inc. acquired a new position in shares of Clearwater Analytics during the 3rd quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Clearwater Analytics by 124.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company's stock worth $81,000 after purchasing an additional 2,425 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of Clearwater Analytics in the second quarter valued at approximately $90,000. 50.10% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $30.34, for a total value of $567,358.00. Following the sale, the chief financial officer now owns 219,044 shares of the company's stock, valued at $6,645,794.96. The trade was a 7.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of Clearwater Analytics stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.75, for a total value of $92,387.50. Following the transaction, the executive now directly owns 4,844 shares in the company, valued at $115,045. The trade was a 44.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,770 shares of company stock worth $1,826,606. Insiders own 4.60% of the company's stock.

Clearwater Analytics Price Performance

CWAN stock traded down $0.13 during trading on Friday, reaching $31.04. 1,608,663 shares of the company were exchanged, compared to its average volume of 1,613,181. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 3,107.11, a P/E/G ratio of 11.13 and a beta of 0.61. The company has a 50-day moving average of $27.80 and a two-hundred day moving average of $23.41.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CWAN. JPMorgan Chase & Co. raised Clearwater Analytics from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $23.00 to $33.00 in a research report on Thursday, November 7th. Oppenheimer raised their price target on Clearwater Analytics from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. DA Davidson cut shares of Clearwater Analytics from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $31.00 to $35.00 in a research report on Friday, November 8th. Morgan Stanley raised their target price on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada increased their price target on shares of Clearwater Analytics from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $31.11.

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.