CIBC Private Wealth Group LLC Buys 11,450 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

CIBC Private Wealth Group LLC increased its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 18.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,155 shares of the company’s stock after acquiring an additional 11,450 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Clearwater Analytics were worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Clearwater Analytics by 1,600.9% during the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company’s stock valued at $39,690,000 after buying an additional 1,357,425 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Clearwater Analytics by 189.5% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company’s stock worth $34,926,000 after purchasing an additional 830,684 shares during the period. Moody Aldrich Partners LLC increased its holdings in Clearwater Analytics by 32.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company’s stock valued at $10,634,000 after purchasing an additional 94,454 shares during the period. Bank of New York Mellon Corp raised its position in Clearwater Analytics by 46.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,040,188 shares of the company’s stock valued at $28,626,000 after purchasing an additional 328,542 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Clearwater Analytics by 43.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 62,178 shares of the company’s stock worth $1,570,000 after buying an additional 18,712 shares during the period. Institutional investors own 50.10% of the company’s stock.

Insider Activity

In related news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $26.94, for a total transaction of $503,778.00. Following the transaction, the chief financial officer now owns 279,857 shares in the company, valued at $7,539,347.58. This represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Subi Sethi sold 62,482 shares of Clearwater Analytics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total transaction of $1,878,833.74. Following the completion of the sale, the insider now directly owns 144,973 shares of the company’s stock, valued at approximately $4,359,338.11. This trade represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 644,510 shares of company stock valued at $18,688,862 in the last 90 days. 4.60% of the stock is currently owned by insiders.

Clearwater Analytics Price Performance

Shares of CWAN opened at $26.72 on Thursday. Clearwater Analytics Holdings, Inc. has a twelve month low of $15.62 and a twelve month high of $35.71. The company has a market capitalization of $6.71 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 8.23 and a beta of 0.69. The firm has a 50 day moving average of $28.17 and a 200 day moving average of $27.97. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.10.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.07). Clearwater Analytics had a return on equity of 7.11% and a net margin of 93.97%. The business had revenue of $126.47 million during the quarter, compared to analysts’ expectations of $120.34 million. As a group, equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

CWAN has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. UBS Group boosted their target price on shares of Clearwater Analytics from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $28.00 to $36.00 in a research note on Thursday, February 20th. Morgan Stanley restated an “overweight” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. Finally, Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.80.

Clearwater Analytics Company 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.