The Manufacturers Life Insurance Company Purchases 57,969 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

The Manufacturers Life Insurance Company increased its position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 340.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,988 shares of the company’s stock after acquiring an additional 57,969 shares during the period. The Manufacturers Life Insurance Company’s holdings in Clearwater Analytics were worth $1,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CWAN. Wasatch Advisors LP lifted its holdings in Clearwater Analytics by 35.6% during the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after buying an additional 4,304,286 shares during the period. Vanguard Group Inc. lifted its holdings in Clearwater Analytics by 36.6% during the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after buying an additional 3,461,158 shares during the period. William Blair Investment Management LLC lifted its holdings in Clearwater Analytics by 42.5% during the 1st quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock worth $183,344,000 after buying an additional 3,090,352 shares during the period. Hood River Capital Management LLC acquired a new position in Clearwater Analytics during the 2nd quarter worth about $43,280,000. Finally, Bamco Inc. NY lifted its holdings in Clearwater Analytics by 30.8% during the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock worth $94,804,000 after buying an additional 1,262,150 shares during the period. Institutional investors own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup started coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 target price on the stock. Oppenheimer boosted their price objective on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company boosted their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler reissued a “neutral” rating and issued a $23.00 price objective on shares of Clearwater Analytics in a research note on Monday, September 9th. Finally, Royal Bank of Canada boosted their price objective on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $25.77 on Friday. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $26.02. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $24.36 and its 200 day simple moving average is $20.52. The company has a market cap of $6.35 billion, a price-to-earnings ratio of -1,288.50, a PEG ratio of 9.16 and a beta of 0.62.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $106.79 million for the quarter, compared to the consensus estimate 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 for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $25.38, for a total transaction of $98,728.20. Following the sale, the executive now owns 6,373 shares in the company, valued at $161,746.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Scott Stanley Erickson sold 3,890 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $25.38, for a total value of $98,728.20. Following the completion of the sale, the executive now owns 6,373 shares in the company, valued at $161,746.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,901,008 shares of company stock worth $247,418,325 over the last 90 days. Corporate insiders own 3.46% of the company’s stock.

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.