Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Shares Sold by HM Payson & Co.

HM Payson & Co. trimmed its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 12.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,100 shares of the company’s stock after selling 2,190 shares during the quarter. HM Payson & Co.’s holdings in Clearwater Analytics were worth $381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CWAN. William Blair Investment Management LLC increased its stake in Clearwater Analytics by 42.5% in the first quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock valued at $183,344,000 after purchasing an additional 3,090,352 shares during the period. Hood River Capital Management LLC purchased a new stake in Clearwater Analytics during the 2nd quarter valued at approximately $43,280,000. Vanguard Group Inc. lifted its position in Clearwater Analytics by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after acquiring an additional 2,219,459 shares during the period. Bamco Inc. NY grew its stake in shares of Clearwater Analytics by 30.8% in the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock valued at $94,804,000 after purchasing an additional 1,262,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Clearwater Analytics by 66.0% in the second quarter. Bank of New York Mellon Corp now owns 956,527 shares of the company’s stock valued at $17,715,000 after purchasing an additional 380,154 shares during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a report on Monday, September 9th. Citigroup initiated coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. Morgan Stanley raised their price objective on shares of Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada increased their target price on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Insider Buying and Selling

In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $22.41, for a total transaction of $201,690,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO James S. Cox sold 13,700 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $323,868.00. Following the sale, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $5,496,370.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $22.41, for a total transaction of $201,690,000.00. The disclosure for this sale can be found here. Insiders have sold 10,864,693 shares of company stock worth $246,818,342 in the last three months. Corporate insiders own 3.46% of the company’s stock.

Clearwater Analytics Price Performance

Shares of NYSE:CWAN opened at $26.30 on Friday. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $27.65. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of -1,314.75, a price-to-earnings-growth ratio of 9.74 and a beta of 0.62. The business’s 50 day simple moving average is $25.27 and its 200-day simple moving average is $21.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $106.79 million for the quarter, compared to analyst estimates of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. Clearwater Analytics’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. As a group, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

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.