Barbara Oil Co. Buys 34,640 Shares of Clearwater Analytics Holdings, Inc. $CWAN

Barbara Oil Co. increased its stake in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 91.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,370 shares of the company’s stock after buying an additional 34,640 shares during the period. Barbara Oil Co.’s holdings in Clearwater Analytics were worth $1,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CWAN. Cetera Investment Advisers raised its position in shares of Clearwater Analytics by 8.3% in the 1st quarter. Cetera Investment Advisers now owns 15,423 shares of the company’s stock worth $413,000 after purchasing an additional 1,180 shares during the last quarter. LPL Financial LLC raised its stake in shares of Clearwater Analytics by 25.8% in the first quarter. LPL Financial LLC now owns 115,179 shares of the company’s stock worth $2,888,000 after buying an additional 23,630 shares during the period. US Bancorp DE raised its stake in shares of Clearwater Analytics by 35.8% in the first quarter. US Bancorp DE now owns 18,354 shares of the company’s stock worth $492,000 after buying an additional 4,836 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Clearwater Analytics by 348.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,341 shares of the company’s stock valued at $331,000 after buying an additional 9,589 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Clearwater Analytics by 11.3% during the 1st 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 during the period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Price Performance

Clearwater Analytics stock opened at $21.71 on Friday. Clearwater Analytics Holdings, Inc. has a 52-week low of $15.73 and a 52-week high of $32.00. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $19.10 and its 200 day moving average is $20.37. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 5.71 and a beta of 0.67.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings data 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). The company had revenue of $205.11 million for the quarter, compared to analysts’ expectations of $203.66 million. Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. The company’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. Sell-side analysts forecast 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 repurchase plan on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 16,592 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total value of $293,346.56. Following the transaction, the chief executive officer owned 913,600 shares of the company’s stock, valued at $16,152,448. This represents a 1.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Scott Stanley Erickson sold 4,505 shares of Clearwater Analytics stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $17.68, for a total value of $79,648.40. Following the sale, the executive owned 19,552 shares of the company’s stock, valued at approximately $345,679.36. This trade represents a 18.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 113,302 shares of company stock worth $2,207,626. 3.31% of the stock is currently owned by insiders.

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.