Y Intercept Hong Kong Ltd Invests $4.03 Million in Clearwater Analytics Holdings, Inc. $CWAN

Y Intercept Hong Kong Ltd bought a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 183,536 shares of the company’s stock, valued at approximately $4,025,000. Y Intercept Hong Kong Ltd owned about 0.06% of Clearwater Analytics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Clearwater Analytics by 11.3% in the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after acquiring an additional 2,366,715 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Clearwater Analytics by 7.7% in the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock worth $171,866,000 after acquiring an additional 458,444 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Clearwater Analytics by 34.1% in the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock worth $152,930,000 after acquiring an additional 1,452,474 shares during the last quarter. Blair William & Co. IL raised its holdings in Clearwater Analytics by 53.4% in the 2nd quarter. Blair William & Co. IL now owns 3,888,661 shares of the company’s stock valued at $85,278,000 after buying an additional 1,354,391 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in Clearwater Analytics by 23.8% in the 1st quarter. Driehaus Capital Management LLC now owns 2,742,511 shares of the company’s stock valued at $73,499,000 after buying an additional 528,059 shares during the last quarter. Institutional investors own 50.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CWAN shares. Zacks Research upgraded shares of Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Weiss Ratings upgraded shares of Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. The Goldman Sachs Group upgraded shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday, August 11th. DA Davidson dropped their price objective on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

Insider Activity at Clearwater Analytics

In other news, CFO James S. Cox sold 11,275 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $17.98, for a total transaction of $202,724.50. Following the completion of the sale, the chief financial officer owned 338,983 shares of the company’s stock, valued at $6,094,914.34. This trade represents a 3.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Souvik Das sold 5,327 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $94,181.36. Following the sale, the chief technology officer directly owned 136,066 shares of the company’s stock, valued at approximately $2,405,646.88. This trade represents a 3.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 143,602 shares of company stock worth $2,756,283. Corporate insiders own 3.31% of the company’s stock.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $19.21 on Wednesday. The company has a market capitalization of $5.62 billion, a PE ratio of 12.08, a P/E/G ratio of 5.24 and a beta of 0.69. The company has a 50 day simple moving average of $19.03 and a two-hundred day simple moving average of $21.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.02 and a current ratio of 2.02. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $35.71.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The business’s revenue for the quarter was up 70.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. Research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Clearwater Analytics announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 1.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.