Clearwater Analytics Holdings, Inc. $CWAN Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 99.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,226 shares of the company’s stock after buying an additional 114,546 shares during the quarter. Hsbc Holdings PLC’s holdings in Clearwater Analytics were worth $5,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CWAN. Vanguard Group Inc. increased its holdings in shares of Clearwater Analytics by 11.3% during the first quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after acquiring an additional 2,366,715 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Clearwater Analytics during the 1st quarter worth approximately $56,648,000. Nuveen LLC acquired a new position in Clearwater Analytics during the 1st quarter valued at approximately $53,894,000. Riverbridge Partners LLC purchased a new position in shares of Clearwater Analytics in the second quarter worth $35,313,000. Finally, Invesco Ltd. lifted its stake in shares of Clearwater Analytics by 34.1% during the first quarter. Invesco Ltd. now owns 5,706,337 shares of the company’s stock worth $152,930,000 after buying an additional 1,452,474 shares during the period. Institutional investors and hedge funds own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Clearwater Analytics in a research note on Wednesday, September 17th. UBS Group decreased their target price on Clearwater Analytics from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company dropped their target price on Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Wall Street Zen lowered shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and an average target price of $29.56.

Clearwater Analytics Price Performance

Shares of NYSE CWAN opened at $21.74 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 5.61 and a beta of 0.67. The firm’s 50 day simple moving average is $19.02 and its 200-day simple moving average is $20.41. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.73 and a 12 month high of $32.00.

Clearwater Analytics (NYSE:CWAN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Clearwater Analytics had a return on equity of 2.77% and a net margin of 61.28%.The firm had revenue of $205.11 million for the quarter, compared to analysts’ expectations of $203.66 million. During the same period last year, the company posted $0.14 earnings per share. The business’s quarterly revenue was up 77.1% on a year-over-year basis. Analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its board has initiated a share repurchase plan on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, insider Subi Sethi sold 7,434 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total value of $131,433.12. Following the sale, the insider directly owned 226,980 shares of the company’s stock, valued at approximately $4,013,006.40. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sandeep Sahai sold 16,592 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total value of $293,346.56. Following the completion of the sale, the chief executive officer owned 913,600 shares of the company’s stock, valued at $16,152,448. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 113,302 shares of company stock worth $2,207,626 over the last quarter. Company insiders own 3.31% of the company’s stock.

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.