American Century Companies Inc. Boosts Stock Position in Clarivate Plc (NYSE:CLVT)

American Century Companies Inc. raised its position in Clarivate Plc (NYSE:CLVT) by 175.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,061,276 shares of the company’s stock after acquiring an additional 3,224,278 shares during the quarter. American Century Companies Inc. owned approximately 0.71% of Clarivate worth $25,711,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Perpetual Ltd grew its holdings in shares of Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after purchasing an additional 1,816,936 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Clarivate by 82.5% in the third quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock worth $1,436,000 after acquiring an additional 91,384 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Clarivate by 112.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock worth $7,387,000 after acquiring an additional 551,838 shares during the period. Verition Fund Management LLC raised its stake in shares of Clarivate by 707.5% in the third quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock valued at $1,119,000 after acquiring an additional 138,031 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock valued at $27,000 after purchasing an additional 3,245 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price target on shares of Clarivate in a report on Thursday, February 20th.

Clarivate Trading Down 3.1 %

Shares of NYSE:CLVT opened at $3.97 on Friday. Clarivate Plc has a 52 week low of $3.90 and a 52 week high of $7.77. The company’s 50 day moving average is $4.68 and its two-hundred day moving average is $5.42. The company has a market cap of $2.73 billion, a PE ratio of -4.13 and a beta of 1.28. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88.

Clarivate announced that its board has authorized a share buyback plan on Monday, December 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.