Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC decreased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 0.4% in the 1st quarter, Holdings Channel reports. The firm owned 6,722,552 shares of the company’s stock after selling 28,025 shares during the quarter. Clearwater Analytics comprises about 2.7% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. Conestoga Capital Advisors LLC’s holdings in Clearwater Analytics were worth $180,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new position in Clearwater Analytics during the 4th quarter worth $57,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Clearwater Analytics during the fourth quarter valued at $82,000. OFI Invest Asset Management bought a new position in shares of Clearwater Analytics during the fourth quarter worth about $88,000. Assetmark Inc. acquired a new stake in shares of Clearwater Analytics in the 4th quarter worth about $111,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Clearwater Analytics in the 4th quarter valued at about $116,000. 50.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kathleen A. Corbet sold 12,634 shares of Clearwater Analytics stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $23.66, for a total value of $298,920.44. Following the transaction, the director now directly owns 14,498 shares in the company, valued at $343,022.68. The trade was a 46.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $23.17, for a total value of $433,279.00. Following the sale, the chief financial officer now directly owns 358,885 shares in the company, valued at $8,315,365.45. This trade represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,334 shares of company stock worth $4,213,699. Corporate insiders own 3.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CWAN. Morgan Stanley restated an “overweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Clearwater Analytics in a research note on Friday, February 21st. Piper Sandler lowered their target price on Clearwater Analytics from $36.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on Clearwater Analytics from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Oppenheimer decreased their price target on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. started coverage on shares of Clearwater Analytics in a research note on Friday, April 25th. They set an “overweight” rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.00.

Clearwater Analytics Stock Up 0.2%

Shares of CWAN stock opened at $22.15 on Tuesday. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.63 and a 1 year high of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. The business’s fifty day moving average is $23.04 and its 200-day moving average is $26.24. The stock has a market cap of $6.28 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 8.23 and a beta of 0.77.

Clearwater Analytics (NYSE:CWAN) last announced its earnings results on Wednesday, April 30th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $126.86 million during the quarter, compared to analysts’ expectations of $125.11 million. Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The company’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. Equities analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

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.