HM Payson & Co. Reduces Stock Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

HM Payson & Co. decreased its stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 12.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,100 shares of the company’s stock after selling 2,190 shares during the quarter. HM Payson & Co.’s holdings in Clearwater Analytics were worth $381,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after buying an additional 1,234 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Clearwater Analytics in the third quarter valued at $45,000. Financial Management Professionals Inc. acquired a new position in shares of Clearwater Analytics in the 3rd quarter valued at $58,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Clearwater Analytics by 124.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,372 shares of the company’s stock worth $81,000 after purchasing an additional 2,425 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of Clearwater Analytics during the 2nd quarter worth about $90,000. Institutional investors and hedge funds own 50.10% of the company’s stock.

Insider Buying and Selling

In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total value of $201,690,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $22.41, for a total value of $201,690,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,864,693 shares of company stock worth $246,818,342. Corporate insiders own 3.46% of the company’s stock.

Clearwater Analytics Stock Performance

Shares of CWAN opened at $26.30 on Friday. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $27.65. The stock has a market capitalization of $6.48 billion, a PE ratio of -1,314.75, a PEG ratio of 9.74 and a beta of 0.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78. The stock has a 50-day simple moving average of $25.27 and a 200-day simple moving average of $21.44.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on CWAN. Piper Sandler reiterated a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Oppenheimer boosted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Citigroup initiated coverage on Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target for the company. Morgan Stanley boosted their price objective on Clearwater Analytics from $20.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Clearwater Analytics presently has an average rating of “Moderate Buy” and an average price target of $25.67.

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.