Amalgamated Bank Makes New $90,000 Investment in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Amalgamated Bank acquired a new position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,844 shares of the company’s stock, valued at approximately $90,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CWAN. Wasatch Advisors LP boosted its position in Clearwater Analytics by 35.6% during the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after acquiring an additional 4,304,286 shares during the period. Vanguard Group Inc. increased its stake in shares of Clearwater Analytics by 17.2% during the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock valued at $267,676,000 after acquiring an additional 2,219,459 shares during the period. William Blair Investment Management LLC raised its holdings in Clearwater Analytics by 0.6% during the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock worth $193,178,000 after purchasing an additional 66,528 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Clearwater Analytics by 2.5% in the second quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company’s stock valued at $123,551,000 after buying an additional 165,000 shares during the period. Finally, Bamco Inc. NY raised its position in Clearwater Analytics by 30.8% in the first quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock worth $94,804,000 after acquiring an additional 1,262,150 shares in the last quarter. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO James S. Cox sold 18,700 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $24.44, for a total value of $457,028.00. Following the completion of the transaction, the chief financial officer now owns 227,503 shares of the company’s stock, valued at approximately $5,560,173.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $22.41, for a total transaction of $201,690,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,897,118 shares of company stock worth $247,319,596 over the last 90 days. 2.10% of the stock is currently owned by insiders.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $24.99 on Wednesday. The company has a market capitalization of $6.14 billion, a P/E ratio of -312.50, a P/E/G ratio of 9.30 and a beta of 0.61. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $26.02. 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 business has a fifty day simple moving average of $23.58 and a two-hundred day simple moving average of $20.05.

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

Wall Street Analyst Weigh In

CWAN has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Clearwater Analytics in a report on Monday, September 9th. Citigroup initiated coverage on Clearwater Analytics in a report on Monday, August 19th. They set a “buy” rating and a $28.00 price objective for the company. Oppenheimer upgraded 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. Finally, Royal Bank of Canada upped their target price on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

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.