Arizona State Retirement System Purchases 7,983 Shares of Clarivate Plc (NYSE:CLVT)

Arizona State Retirement System grew its position in Clarivate Plc (NYSE:CLVT) by 9.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 94,570 shares of the company’s stock after purchasing an additional 7,983 shares during the period. Arizona State Retirement System’s holdings in Clarivate were worth $480,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. KBC Group NV grew its position in Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after purchasing an additional 2,549 shares in the last quarter. Integrated Investment Consultants LLC grew its holdings in shares of Clarivate by 2.9% in the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock valued at $686,000 after acquiring an additional 2,696 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Clarivate by 2.3% during the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock valued at $900,000 after acquiring an additional 2,865 shares during the last quarter. Truist Financial Corp lifted its holdings in Clarivate by 27.3% during the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares during the period. Finally, GAMMA Investing LLC boosted its position in Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after purchasing an additional 3,245 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price on shares of Clarivate in a research report on Thursday, February 20th.

Clarivate Trading Up 3.4 %

NYSE:CLVT opened at $4.13 on Friday. Clarivate Plc has a 12 month low of $3.96 and a 12 month high of $7.77. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The firm’s 50 day moving average is $4.87 and its 200 day moving average is $5.60. The stock has a market capitalization of $2.85 billion, a PE ratio of -4.30 and a beta of 1.28.

Clarivate announced that its Board of Directors has approved a share buyback plan on Monday, December 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 12.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.