William Blair initiated research coverage of Clearwater Analytics Holdings, Inc. (CWAN $24.36), which provides automated accounting and investment analytics software.
“Clearwater Analytics is the leading provider of automated investment accounting, performance, compliance, and risk reporting solutions,” Suri said. “The company provides a multitenant platform that offers comprehensive coverage across equities, fixed income, and other asset classes. Its multitenant SaaS platform allows for daily reconciliation and provides customers an easy-to-use and customizable interface.”
Mielczarek added, “Clearwater has $5.6 trillion of assets on its platform, across which the company can extract best practices and insights for its customers. Over the last three years, the company has doubled the number of data sources feeding into its platform, with now more than 2,600 customer, custodian, and trading systems connected.”
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Current Ratings Distribution (as of 10/18/21)
Outperform (Buy): 76%
Market Perform (Hold): 24%
Underperform (Sell): 1%
Inv. Banking Relationships*
Outperform (Buy): 31%
Market Perform (Hold): 13%
Underperform (Sell): 0%
* Percentage of companies in each rating category that are investment banking clients, defined as companies for which William Blair has received compensation for investment banking services within the past 12 months.
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