M&T Bank Corp Trims Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

M&T Bank Corp trimmed its position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN) by 0.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 77,813 shares of the company’s stock after selling 377 shares during the period. M&T Bank Corp’s holdings in Clearwater Analytics were worth $1,964,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Wasatch Advisors LP increased its stake in Clearwater Analytics by 3.2% in the 3rd quarter. Wasatch Advisors LP now owns 18,135,026 shares of the company’s stock worth $457,909,000 after acquiring an additional 559,564 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Clearwater Analytics by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock valued at $210,659,000 after purchasing an additional 128,402 shares during the last quarter. William Blair Investment Management LLC grew its stake in Clearwater Analytics by 0.6% in the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock worth $193,178,000 after buying an additional 66,528 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Clearwater Analytics by 1.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 6,778,457 shares of the company’s stock worth $171,156,000 after buying an additional 107,210 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Clearwater Analytics by 38.7% in the 3rd quarter. State Street Corp now owns 3,617,462 shares of the company’s stock worth $91,341,000 after buying an additional 1,009,548 shares during the last quarter. 50.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CWAN has been the subject of several research reports. Royal Bank of Canada upped their target price on shares of Clearwater Analytics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler increased their price objective on Clearwater Analytics from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. DA Davidson downgraded Clearwater Analytics from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $31.00 to $35.00 in a research report on Friday, November 8th. The Goldman Sachs Group increased their price target on shares of Clearwater Analytics from $20.00 to $22.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upgraded shares of Clearwater Analytics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $23.00 to $33.00 in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Hold” and an average target price of $31.89.

Clearwater Analytics Stock Performance

NYSE:CWAN opened at $29.56 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.66 and a current ratio of 4.66. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.62 and a fifty-two week high of $35.71. The business has a 50 day moving average price of $28.69 and a 200-day moving average price of $24.18. The firm has a market cap of $7.30 billion, a PE ratio of 2,956.00, a price-to-earnings-growth ratio of 10.57 and a beta of 0.69.

Insider Buying and Selling at Clearwater Analytics

In other news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $24.44, for a total value of $457,028.00. Following the sale, the chief financial officer now directly owns 227,503 shares in the company, valued at approximately $5,560,173.32. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Sahai sold 139,172 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $28.94, for a total value of $4,027,637.68. Following the transaction, the chief executive officer now owns 441,724 shares of the company’s stock, valued at approximately $12,783,492.56. This represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,942 shares of company stock valued at $5,874,939 in the last quarter. Company insiders own 4.60% of the company’s stock.

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.