Corton Capital Inc. Purchases New Shares in Clearwater Analytics Holdings, Inc. $CWAN

Corton Capital Inc. purchased a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 2nd quarter, HoldingsChannel reports. The firm purchased 14,695 shares of the company’s stock, valued at approximately $322,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Clearwater Analytics in the first quarter worth about $314,000. Teacher Retirement System of Texas increased its position in shares of Clearwater Analytics by 31.5% during the first quarter. Teacher Retirement System of Texas now owns 105,849 shares of the company’s stock valued at $2,837,000 after acquiring an additional 25,356 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Clearwater Analytics by 15,661.6% during the first quarter. Brown Advisory Inc. now owns 1,407,040 shares of the company’s stock valued at $37,709,000 after acquiring an additional 1,398,113 shares during the last quarter. Cerity Partners LLC increased its position in shares of Clearwater Analytics by 7.3% during the first quarter. Cerity Partners LLC now owns 11,598 shares of the company’s stock valued at $311,000 after acquiring an additional 793 shares during the last quarter. Finally, Bosman Wealth Management LLC acquired a new position in shares of Clearwater Analytics in the first quarter valued at approximately $1,105,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CWAN has been the subject of a number of research reports. 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 reduced their price objective on shares of Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Royal Bank Of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Clearwater Analytics in a research report on Wednesday, September 17th. Wall Street Zen downgraded shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings raised shares of Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.67.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $18.45 on Monday. Clearwater Analytics Holdings, Inc. has a 52 week low of $17.15 and a 52 week high of $35.71. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $18.93 and its 200 day simple moving average is $20.91. The firm has a market capitalization of $5.40 billion, a PE ratio of 11.60, a P/E/G ratio of 5.04 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The business had revenue of $181.94 million during the quarter, compared to analysts’ expectations of $174.16 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Clearwater Analytics’s quarterly revenue was up 70.4% on a year-over-year basis. On average, equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics declared that its board has initiated a share buyback plan on Wednesday, September 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Clearwater Analytics news, insider Subi Sethi sold 7,434 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $131,433.12. Following the transaction, the insider directly owned 226,980 shares in the company, valued at approximately $4,013,006.40. This represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James S. Cox sold 11,275 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.51, for a total transaction of $219,975.25. Following the completion of the transaction, the chief financial officer owned 338,964 shares in the company, valued at approximately $6,613,187.64. This trade represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 143,602 shares of company stock valued at $2,756,283 in the last 90 days. Company insiders own 3.31% of the company’s stock.

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.