California Public Employees Retirement System Has $7.23 Million Stock Holdings in Clarivate Plc (NYSE:CLVT)

California Public Employees Retirement System grew its holdings in shares of Clarivate Plc (NYSE:CLVT) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 780,468 shares of the company’s stock after purchasing an additional 86,795 shares during the quarter. California Public Employees Retirement System owned about 0.12% of Clarivate worth $7,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in Clarivate during the third quarter worth approximately $33,000. Wedmont Private Capital bought a new stake in shares of Clarivate during the 4th quarter worth $99,000. Forum Financial Management LP acquired a new position in Clarivate in the 3rd quarter valued at $81,000. Simplicity Solutions LLC bought a new position in Clarivate in the 3rd quarter worth $108,000. Finally, Headlands Technologies LLC bought a new stake in Clarivate during the third quarter valued at about $110,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley cut their price objective on Clarivate from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Barclays cut their price target on Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Oppenheimer dropped their target price on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reduced their price target on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Clarivate presently has an average rating of “Hold” and an average price target of $8.00.

Clarivate Price Performance

NYSE:CLVT opened at $6.85 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The firm has a market cap of $4.58 billion, a PE ratio of -4.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Clarivate Plc has a 12 month low of $6.07 and a 12 month high of $10.03. The company’s 50-day moving average price is $7.25 and its two-hundred day moving average price is $7.86.

Clarivate (NYSE:CLVT) last posted its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The company had revenue of $683.70 million during the quarter, compared to analysts’ expectations of $687.80 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Clarivate’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Clarivate Plc will post 0.62 EPS for the current fiscal year.

Clarivate Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.