MQS Management LLC Increases Stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

MQS Management LLC boosted its holdings in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 17.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 13,471 shares of the company’s stock after buying an additional 1,995 shares during the period. MQS Management LLC’s holdings in Clearwater Analytics were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Clearwater Analytics by 13.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,450,888 shares of the company’s stock valued at $182,780,000 after buying an additional 1,148,338 shares during the period. Raymond James & Associates grew its holdings in Clearwater Analytics by 42.1% during the 4th quarter. Raymond James & Associates now owns 621,031 shares of the company’s stock worth $12,439,000 after acquiring an additional 183,899 shares in the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of Clearwater Analytics in the 4th quarter valued at approximately $396,000. Fifth Third Bancorp raised its holdings in shares of Clearwater Analytics by 649.8% in the 4th quarter. Fifth Third Bancorp now owns 17,096 shares of the company’s stock valued at $342,000 after purchasing an additional 14,816 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Clearwater Analytics by 50.3% during the 4th quarter. Arizona State Retirement System now owns 33,666 shares of the company’s stock worth $674,000 after purchasing an additional 11,264 shares during the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Stock Performance

Clearwater Analytics stock traded down $0.10 during midday trading on Thursday, hitting $20.16. 1,854,465 shares of the company’s stock were exchanged, compared to its average volume of 1,433,188. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.59 and a current ratio of 5.59. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of -254.75, a price-to-earnings-growth ratio of 7.90 and a beta of 0.57. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $21.89. The firm’s 50 day simple moving average is $19.15 and its 200 day simple moving average is $18.40.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $102.70 million for the quarter, compared to analyst estimates of $100.55 million. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The business’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company posted $0.07 earnings per share. Equities research analysts predict that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current year.

Insider Activity

In other Clearwater Analytics news, insider Scott Stanley Erickson sold 118,204 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $20.10, for a total value of $2,375,900.40. Following the transaction, the insider now directly owns 3,315 shares of the company’s stock, valued at approximately $66,631.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Clearwater Analytics news, Director Warburg Pincus Llc sold 7,000,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total value of $137,970,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Stanley Erickson sold 118,204 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $20.10, for a total transaction of $2,375,900.40. Following the sale, the insider now owns 3,315 shares in the company, valued at $66,631.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,233,244 shares of company stock valued at $142,594,162. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CWAN shares. Wells Fargo & Company dropped their target price on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley restated an “equal weight” rating and set a $19.00 target price on shares of Clearwater Analytics in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Finally, Oppenheimer upgraded shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Clearwater Analytics presently has an average rating of “Moderate Buy” and an average target price of $22.00.

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.