Clearwater Analytics (CWAN)
SaaS platform for investment accounting, risk, performance, and reporting workflows.
Something off on this page? Send us feedback.
Clearwater Analytics sells cloud software that helps insurers, asset managers, hedge funds, banks, corporations, and public entities keep investment data, accounting, analytics, risk, compliance, performance, and reporting in one workflow. It reports one segment and earns mainly from institutional clients, with business still US-heavy but increasingly international.
Clearwater Analytics provides SaaS software for institutional investment operations, anchored in aggregation, reconciliation, accounting, analytics, compliance, risk, performance, and reporting. Its users include insurers, asset managers, hedge funds, banks, corporations, and government entities, and management reports the business as one operating segment. Revenue remains concentrated in the United States, while the client base spans more than one region and the platform supports cross-border institutional portfolios.
The recent Enfusion, Beacon, and Bistro acquisitions broadened the system from middle- and back-office reporting toward front-office portfolio management, order management, risk modeling, and private-market visualization. Execution depends on integrating those acquired workflows into a shared platform, keeping institutional data reliable, and navigating a stockholder-approved take-private merger that was still awaiting one regulatory approval in the opened context.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 31, 2026Cash & short-term investments $81.5M · Total debt $860.8M · Total assets $3.03B · Shareholders' equity $2.05B
- Revenue
- $221.2M
- Operating income
- $9.0M
- Net income
- −$2.8M
No dividends on record.
| Insiders | 0.02% | 55.9K shares | |
|---|---|---|---|
| 2 holders · as of Jun 25, 2025 | |||
| Other | 99.98% | 298.43M shares | |
| remainder | |||
298.49M company shares as of Sep 23, 2026 · holders as of their latest filing
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Galibier Purchaser, LLCInstitution | 6.21% | 18.54M | filed Apr 29, 2026 |
Jaswinder Pal SinghInsiderdirector | 0.01% | 33,575 A | filed Jun 25, 2025 |
Kathleen A. CorbetInsiderdirector | 0.01% | 22,351 A | filed Jun 25, 2025 |
Jacques AigrainInsiderdirector | 0.00% | 0 | filed Jun 25, 2026 |
Baron Capital Group, Inc.2,852,205Strategic | —6.02% of class, as filed | — | filed Feb 15, 2022 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | D. Scott Mackesy | director | −633,879 | $24.30 |
| Jun 8, 2026 | Souvik Das | officer: Chief Technology Officer | −10,000 | $24.35 |
| May 8, 2026 | Souvik Das | officer: Chief Technology Officer | −10,000 | $24.34 |
| Apr 15, 2026 | James S. Cox | officer: Chief Financial Officer | −18,700 | $24.07 |
| Apr 8, 2026 | Souvik Das | officer: Chief Technology Officer | −10,000 | $24.01 |
- SS&C Technologies
Broadest overlap in accounting, OMS, EMS, and operations
- State Street
Front-to-back Alpha platform plus servicing and accounting
- BlackRock
Aladdin challenges risk, portfolio, ops, and accounting
- SEI Investments
Operations platform for investment managers and asset owners
- FactSet
Portfolio analytics, trading, risk, reporting, and data
- MSCI
Risk, performance, and portfolio analytics overlap
- Broadridge Financial Solutions
Buy-side OMS, accounting, data, reporting, and post-trade
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Clearwater Analytics | $24.56 | 0.00% | $7.30B | — | — | 8.8 | +74.4% |
| SS&C Technologies | $79.84 | +0.73% | $18.60B | 22.8 | 10.7 | 2.8 | +10.4% |
| State Street | $180.43 | +0.10% | $49.89B | 15.9 | 12.5 | 2.2 | −30.2% |
| BlackRock | $1,069.06 | +0.23% | $165.33B | 25.5 | 17.9 | 6.1 | +30.6% |
| SEI Investments | $104.70 | +0.90% | $12.45B | 18.3 | 15.8 | 5.1 | +14.7% |
| FactSet | $280.99 | +1.65% | $9.83B | 18.2 | 14.7 | 4.0 | +6.4% |
| MSCI | $555.56 | +1.22% | $39.90B | 30.2 | 26.3 | 12.0 | +12.2% |
| Broadridge Financial Solutions | $164.69 | +1.02% | $18.85B | 16.9 | 15.6 | 2.5 | +7.5% |
| Median | 18.3 | 15.6 | 4.0 | +10.4% |