Kayne Anderson Rudnick Investment Management LLC Has $210.66 Million Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Kayne Anderson Rudnick Investment Management LLC raised its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 1.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,374,673 shares of the company’s stock after purchasing an additional 128,402 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Clearwater Analytics were worth $210,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Clearwater Analytics by 46.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,887 shares of the company’s stock valued at $14,019,000 after buying an additional 221,492 shares in the last quarter. Thornburg Investment Management Inc. raised its holdings in Clearwater Analytics by 31.7% in the 1st quarter. Thornburg Investment Management Inc. now owns 331,285 shares of the company’s stock valued at $5,860,000 after acquiring an additional 79,707 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Clearwater Analytics by 22.3% during the 1st quarter. California State Teachers Retirement System now owns 131,341 shares of the company’s stock valued at $2,323,000 after acquiring an additional 23,971 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Clearwater Analytics during the 1st quarter worth $825,000. Finally, Brown Capital Management LLC increased its position in shares of Clearwater Analytics by 17.5% in the fourth quarter. Brown Capital Management LLC now owns 3,534,992 shares of the company’s stock worth $70,806,000 after purchasing an additional 527,622 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

Clearwater Analytics Stock Performance

NYSE CWAN opened at $25.29 on Friday. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $25.81. The stock has a market cap of $6.21 billion, a PE ratio of -316.13, a PEG ratio of 8.54 and a beta of 0.61. 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 firm’s fifty day moving average price is $22.88 and its two-hundred day moving average price is $19.64.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CWAN. Wells Fargo & Company upped their price objective 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. Oppenheimer raised shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Monday, July 8th. Royal Bank of Canada lifted their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup started coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price objective for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Clearwater Analytics in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

Insider Activity

In other news, insider Subi Sethi sold 21,497 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $24.30, for a total transaction of $522,377.10. Following the completion of the transaction, the insider now owns 81,812 shares of the company’s stock, valued at $1,988,031.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Subi Sethi sold 21,497 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $24.30, for a total value of $522,377.10. Following the completion of the sale, the insider now owns 81,812 shares of the company’s stock, valued at $1,988,031.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $24.18, for a total value of $43,144,760.88. The disclosure for this sale can be found here. Insiders sold 10,897,118 shares of company stock valued at $247,319,596 over the last quarter. 2.10% of the stock is owned by company 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.