Raymond James Financial Inc. Buys Shares of 744,270 Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Raymond James Financial Inc. bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) during the 4th quarter, Holdings Channel reports. The firm bought 744,270 shares of the company’s stock, valued at approximately $20,482,000.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Clearwater Analytics by 57.4% in the 4th quarter. GAMMA Investing LLC now owns 1,284 shares of the company’s stock worth $35,000 after buying an additional 468 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Clearwater Analytics in the 4th quarter worth $57,000. R Squared Ltd bought a new stake in shares of Clearwater Analytics in the 4th quarter worth $80,000. Nisa Investment Advisors LLC raised its stake in shares of Clearwater Analytics by 174.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,128 shares of the company’s stock worth $86,000 after buying an additional 1,987 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Clearwater Analytics by 38.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,574 shares of the company’s stock worth $90,000 after buying an additional 995 shares in the last quarter. Institutional investors own 50.10% of the company’s stock.

Insider Buying and Selling at Clearwater Analytics

In other Clearwater Analytics news, CEO Sandeep Sahai sold 50,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $25.89, for a total value of $1,294,500.00. Following the transaction, the chief executive officer now owns 615,855 shares in the company, valued at $15,944,485.95. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Scott Stanley Erickson sold 76,256 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $30.07, for a total value of $2,293,017.92. Following the completion of the transaction, the executive now owns 78,363 shares in the company, valued at $2,356,375.41. This trade represents a 49.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 625,810 shares of company stock worth $18,191,816 over the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Clearwater Analytics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. DA Davidson raised Clearwater Analytics from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $35.00 to $32.00 in a research note on Tuesday, January 14th. Oppenheimer lifted their target price on Clearwater Analytics from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Piper Sandler upgraded Clearwater Analytics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $28.00 to $36.00 in a report on Thursday, February 20th. Finally, Royal Bank of Canada lifted their target price on Clearwater Analytics from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.80.

Clearwater Analytics Stock Performance

Shares of CWAN stock opened at $26.88 on Monday. Clearwater Analytics Holdings, Inc. has a 1-year low of $15.62 and a 1-year high of $35.71. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 8.23 and a beta of 0.69. The stock’s fifty day simple moving average is $28.31 and its 200-day simple moving average is $27.75.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. The business had revenue of $126.47 million for the quarter, compared to analysts’ expectations of $120.34 million. On average, sell-side analysts predict that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

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.