Zurcher Kantonalbank Zurich Cantonalbank Purchases 5,031 Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 23.5% in the second quarter, Holdings Channel.com reports. The fund owned 26,455 shares of the company’s stock after purchasing an additional 5,031 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Clearwater Analytics were worth $490,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its position in shares of 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. boosted its stake in shares of Clearwater Analytics by 36.6% in the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after purchasing an additional 3,461,158 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Clearwater Analytics by 42.5% in the 1st quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock worth $183,344,000 after purchasing an additional 3,090,352 shares during the last quarter. Bamco Inc. NY increased its position in shares of 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 purchasing an additional 1,262,150 shares in the last quarter. Finally, Capital World Investors lifted its holdings in Clearwater Analytics by 60.5% during the 4th quarter. Capital World Investors now owns 3,051,500 shares of the company’s stock valued at $61,122,000 after purchasing an additional 1,150,538 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Price Performance

CWAN stock opened at $23.81 on Friday. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $24.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of -297.63, a P/E/G ratio of 8.98 and a beta of 0.61. The company has a 50 day simple moving average of $21.72 and a 200 day simple moving average of $19.27.

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

Insider Buying and Selling

In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Galibier Purchaser, Llc sold 1,784,316 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $24.18, for a total value of $43,144,760.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Souvik Das sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $18.92, for a total value of $473,000.00. Following the completion of the transaction, the chief technology officer now owns 10,453 shares in the company, valued at approximately $197,770.76. The disclosure for this sale can be found here. Insiders sold 17,930,803 shares of company stock valued at $385,864,308 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Clearwater Analytics from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. 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 research report on Thursday, August 1st. Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Monday, July 8th. Finally, Citigroup began 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.45.

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.