Invesco Ltd. Reduces Holdings in Clearwater Analytics Holdings, Inc. $CWAN

Invesco Ltd. lessened its holdings in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 22.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,422,668 shares of the company’s stock after selling 1,283,669 shares during the period. Invesco Ltd. owned 1.56% of Clearwater Analytics worth $96,989,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Clearwater Analytics by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock valued at $623,001,000 after buying an additional 2,366,715 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Clearwater Analytics by 7.7% in the first quarter. Wellington Management Group LLP now owns 6,412,929 shares of the company’s stock valued at $171,866,000 after acquiring an additional 458,444 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Clearwater Analytics by 6.7% during the second quarter. JPMorgan Chase & Co. now owns 5,774,285 shares of the company’s stock valued at $126,630,000 after acquiring an additional 363,720 shares during the last quarter. Geode Capital Management LLC increased its position in Clearwater Analytics by 22.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,737,241 shares of the company’s stock worth $125,833,000 after purchasing an additional 1,060,435 shares in the last quarter. Finally, Norges Bank acquired a new position in Clearwater Analytics in the 2nd quarter valued at about $106,504,000. 50.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CWAN shares. DA Davidson reiterated a “buy” rating and set a $30.00 price target on shares of Clearwater Analytics in a report on Tuesday, November 18th. JPMorgan Chase & Co. cut their price target on Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Zacks Research upgraded Clearwater Analytics from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Morgan Stanley reiterated an “overweight” rating and issued a $27.00 target price on shares of Clearwater Analytics in a research note on Monday, November 24th. Finally, Wells Fargo & Company decreased their price target on Clearwater Analytics from $32.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.56.

Insider Buying and Selling at Clearwater Analytics

In related news, insider Subi Sethi sold 7,434 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $17.68, for a total transaction of $131,433.12. Following the completion of the sale, the insider directly owned 226,980 shares of the company’s stock, valued at approximately $4,013,006.40. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sandeep Sahai sold 16,592 shares of the stock in a transaction 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 approximately $16,152,448. This represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 113,302 shares of company stock worth $2,217,826. Corporate insiders own 3.31% of the company’s stock.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $20.93 on Wednesday. The business’s 50-day simple moving average is $19.23 and its 200-day simple moving average is $20.35. The firm has a market capitalization of $6.12 billion, a P/E ratio of 13.68, a P/E/G ratio of 5.73 and a beta of 0.67. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.73 and a 1-year high of $32.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.97 and a quick ratio of 1.97.

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

Clearwater Analytics declared that its board has approved a stock repurchase program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.