Clearwater Analytics Holdings, Inc. $CWAN Shares Bought by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. increased its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 64.8% during the second quarter, Holdings Channel reports. The fund owned 98,188 shares of the company’s stock after purchasing an additional 38,618 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Clearwater Analytics were worth $2,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CWAN. First Horizon Advisors Inc. grew its position in Clearwater Analytics by 278.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock worth $33,000 after purchasing an additional 1,121 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Clearwater Analytics by 84.6% during the second quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after buying an additional 708 shares during the last quarter. Nvwm LLC acquired a new position in shares of Clearwater Analytics during the first quarter worth approximately $46,000. Quarry LP grew its holdings in Clearwater Analytics by 979.4% in the 1st quarter. Quarry LP now owns 2,094 shares of the company’s stock worth $56,000 after buying an additional 1,900 shares in the last quarter. Finally, CWM LLC increased its position in Clearwater Analytics by 714.6% in the 1st quarter. CWM LLC now owns 3,071 shares of the company’s stock valued at $82,000 after acquiring an additional 2,694 shares during the period. 50.10% of the stock is currently owned by institutional investors.

Clearwater Analytics Stock Performance

Shares of CWAN opened at $17.35 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The firm’s 50 day moving average is $18.77 and its 200-day moving average is $20.81. Clearwater Analytics Holdings, Inc. has a 12-month low of $17.15 and a 12-month high of $35.71. The stock has a market capitalization of $5.07 billion, a P/E ratio of 10.91, a P/E/G ratio of 4.76 and a beta of 0.69.

Clearwater Analytics (NYSE:CWAN) last released its earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $181.94 million for the quarter, compared to analyst estimates of $174.16 million. Clearwater Analytics had a net margin of 73.74% and a return on equity of 3.23%. The firm’s revenue for the quarter was up 70.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. Equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

Clearwater Analytics announced that its board has initiated a stock buyback program on Wednesday, September 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CWAN shares. Weiss Ratings upgraded Clearwater Analytics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. The Goldman Sachs Group raised shares of Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday, August 11th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Clearwater Analytics in a research report on Wednesday, September 17th. DA Davidson dropped their price target on shares of Clearwater Analytics from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics has a consensus rating of “Moderate Buy” and an average price target of $32.22.

Insider Activity at Clearwater Analytics

In other news, CTO Souvik Das sold 5,327 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total transaction of $94,181.36. Following the completion of the sale, the chief technology officer directly owned 136,066 shares of the company’s stock, valued at $2,405,646.88. This trade represents a 3.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James S. Cox sold 11,275 shares of Clearwater Analytics stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $17.98, for a total value of $202,724.50. Following the completion of the transaction, the chief financial officer owned 338,983 shares in the company, valued at $6,094,914.34. The trade was a 3.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 143,602 shares of company stock worth $2,756,283. 3.31% of the stock is owned by corporate insiders.

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.