Principal Financial Group Inc. Purchases New Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Principal Financial Group Inc. purchased a new position in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,915 shares of the company’s stock, valued at approximately $350,000.

Several other institutional investors also recently bought and sold shares of CWAN. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Clearwater Analytics by 23.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,455 shares of the company’s stock valued at $490,000 after purchasing an additional 5,031 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Clearwater Analytics by 2.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company’s stock worth $123,551,000 after buying an additional 165,000 shares during the last quarter. RiverPark Advisors LLC increased its stake in Clearwater Analytics by 33.1% during the 2nd quarter. RiverPark Advisors LLC now owns 7,140 shares of the company’s stock worth $132,000 after buying an additional 1,774 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Clearwater Analytics by 66.0% during the second quarter. Bank of New York Mellon Corp now owns 956,527 shares of the company’s stock valued at $17,715,000 after acquiring an additional 380,154 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Clearwater Analytics by 0.7% in the second quarter. Raymond James & Associates now owns 648,603 shares of the company’s stock valued at $12,012,000 after acquiring an additional 4,602 shares in the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Price Performance

Shares of CWAN stock opened at $24.01 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The company has a market capitalization of $5.91 billion, a PE ratio of -300.13, a price-to-earnings-growth ratio of 8.54 and a beta of 0.61. The firm’s 50-day moving average is $22.24 and its two-hundred day moving average is $19.40. Clearwater Analytics Holdings, Inc. has a 12 month low of $15.62 and a 12 month high of $24.93.

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

Analysts Set New Price Targets

Several research analysts recently commented on CWAN shares. Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research note on Monday, July 8th. Citigroup assumed coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They issued a “buy” rating and a $28.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $23.00 price objective on shares of Clearwater Analytics in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.30.

Insider Activity

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $18.92, for a total transaction of $213,323.00. Following the completion of the transaction, the chief financial officer now owns 232,503 shares of the company’s stock, valued at $4,398,956.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Souvik Das sold 25,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $18.92, for a total value of $473,000.00. Following the sale, the chief technology officer now owns 10,453 shares in the company, valued at approximately $197,770.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James S. Cox sold 11,275 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $18.92, for a total value of $213,323.00. Following the transaction, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $4,398,956.76. The disclosure for this sale can be found here. Insiders have sold a total of 10,878,418 shares of company stock valued at $246,862,568 in the last quarter. Insiders own 2.10% of the company’s stock.

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.