Insiders may stand to receive substantial financial benefits not available to ordinary shareholders.  The proposed transactions may contain terms that could limit superior competing offers. Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. NEW YORK, Feb. 22, 2026 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an ...

Core Viewpoint - Clearwater Analytics Holdings, Inc. is under investigation regarding the fairness of the proposed buyout price of $24.55 per share, as analysts had previously set price targets exceeding $35.00 per share [1][3]. Group 1: Buyout Announcement - On December 21, 2025, Clearwater announced an agreement to be acquired by a group of private equity funds at a cash price of $24.55 per share [2]. - Following the completion of the transaction, Clearwater's shares will no longer be publicly traded, and shareholders will be cashed out [2]. Group 2: Investigation Details - The investigation aims to assess whether Clearwater investors are receiving adequate financial consideration for their shares, given the analysts' price targets [3]. - Several stock analysts had maintained price targets of over $35.00 per share at the time of the buyout announcement, raising concerns about the adequacy of the proposed buyout price [3].

分组1 - Clearwater Analytics reported quarterly earnings of $0.15 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.13 per share a year ago, resulting in an earnings surprise of +2.74% [1] - The company posted revenues of $217.46 million for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 0.37%, and up from $126.46 million year-over-year [2] - Clearwater Analytics has surpassed consensus revenue estimates four times over the last four quarters, indicating a positive trend in revenue performance [2] 分组2 - The stock has underperformed the market, losing about 4.9% since the beginning of the year, while the S&P 500 has shown a zero return [3] - The current consensus EPS estimate for the upcoming quarter is $0.16 on revenues of $222.31 million, and for the current fiscal year, it is $0.68 on revenues of $947.34 million [7] - The Zacks Industry Rank places the Internet - Software sector in the bottom 48% of over 250 Zacks industries, suggesting potential challenges for stocks in this category [8]

Merger and Acquisitions - The company entered into a Merger Agreement valued at approximately $8.4 billion, with each share of Class A common stock converting to $24.55 in cash upon completion[18]. - The Merger is expected to close in Q2 2026, pending stockholder approval and regulatory conditions[20]. - The company completed acquisitions of Beacon and Enfusion in 2025, enhancing its capabilities in risk management and portfolio visualization[32]. - The company completed acquisitions of Enfusion and Beacon in April 2025, and an asset purchase of Blackstone's Bistro platform in March 2025, to enhance its service offerings[84][85]. - If the Merger Agreement is terminated for certain reasons, the company may be required to pay a termination fee of approximately $0.2 billion[114]. Client and Market Performance - The company serves over 2,500 clients and aggregates data on over $10 trillion of global invested assets as of December 31, 2025[22]. - The gross revenue retention rate has remained at least 98% in 27 of the past 28 quarters, indicating strong client satisfaction and operational efficiency[29]. - The company has consistently exceeded a net revenue retention rate of 100% since 2019, reflecting successful expansion of client relationships[30]. - The company’s diversified client base includes insurance companies, asset managers, and large corporations, with assets on the platform amounting to $5.0 trillion, $3.2 trillion, and $1.4 trillion respectively as of December 31, 2025[70]. - The company has only approximately 4% market penetration in a $23 billion total addressable market (TAM), indicating significant growth potential[80]. - Revenues outside the United States represented only 25% of total revenues for the year ended December 31, 2025, despite these markets representing approximately 51% of the total addressable market[81]. Technology and Operations - The company’s platform processes data from over 4,900 daily data feeds and more than four million securities, providing comprehensive analytics and reporting[27]. - CWAN's platform supports investment accounting for over $10 trillion in assets globally as of December 31, 2025[47]. - Approximately 91% of portfolios are automatically validated, reconciled, and processed without further intervention[46]. - The platform eliminates the need for clients to manually process and reconcile data from different sources, providing a single source of truth for investment management workflows[47]. - CWAN's platform allows clients to access over 60 local currencies and 30 functional currencies, supporting multi-currency operations[52]. - The platform offers flexible configurations for accounting, supporting 45 different accounting bases including GAAP, Statutory, Tax, and IFRS[52]. - CWAN provides deep insights into opaque alternative assets, enhancing decision-making for asset owners and managers[47]. - The platform automates data aggregation, reconciliation, and validation, creating a "golden copy" of investment portfolio data[47]. - CWAN's technology stack is designed to efficiently process millions of daily transactions, ensuring scalability and efficiency[47]. - CWAN runs 1,200 automated workflows each week, driving operational improvements for clients[67]. Financial Performance and Growth - For the year ended December 31, 2025, the company's revenues grew by 62% compared to the same period in 2024[125]. - The company achieved a gross revenue retention rate of at least 98% for 27 of the past 28 quarters, with a net revenue retention rate of 109% for the quarter ended December 31, 2025[79]. - The company relies heavily on fees based on the value of assets on its platform, which are affected by market volatility and economic conditions[120]. - The company faces prolonged sales cycles and substantial upfront sales costs when targeting large financial institutions and government entities, which may impact revenue predictability[123]. - The company is vulnerable to changes in economic conditions, interest rates, and regulatory events that could adversely affect client demand for its services[121]. Compliance and Regulatory Challenges - Increased regulatory complexity has led to a nearly six-fold rise in global yearly regulatory alerts, necessitating robust compliance solutions[41]. - The company expects to incur significant costs related to compliance with privacy and security standards, which could adversely affect its financial condition[97]. - Increased regulation of data utilization may require the company to modify operations and incur additional expenses, impacting its business[96]. - Compliance with various privacy laws, including the California Consumer Privacy Act, may increase legal costs and impact operations[144]. - Cybersecurity events could lead to reputational harm, loss of clients, and significant liabilities, adversely affecting business operations[145]. Human Resources and Culture - The company has a team-oriented culture and emphasizes diversity and inclusion, believing it leads to better business outcomes[101]. - The company has observed increased competition for qualified employees, which could affect its ability to attract and retain top talent necessary for growth[126]. - As of December 31, 2025, the company had over 3,000 employees, with 1,303 located in the United States and 1,118 in India[99]. - The company has invested heavily in product development and engineering, with approximately 31% of its global employee base dedicated to these areas[91]. Intellectual Property and Legal Risks - The company is dependent on its intellectual property rights, and any failure to protect these rights could have a material adverse effect on its operations[177]. - The company holds three copyright registrations, seven registered trademarks in the U.S., and eighteen international trademarks, but only one technology is covered by an issued patent[178]. - The company faces risks of intellectual property infringement claims, which could lead to significant damages or operational changes[179]. Environmental, Social, and Governance (ESG) Considerations - Increased scrutiny on ESG practices may impose additional costs and expose the company to new risks[216]. - Stakeholders are increasingly focused on ESG issues, including climate change, human rights, and diversity[216]. - Public ESG and sustainability reporting is becoming a standard expectation among various stakeholders[216]. - Investment funds are increasingly using ESG scores to evaluate companies, impacting investment decisions[217]. - A low ESG rating could result in reputational damage and exclusion from certain investors' portfolios[217].

CWAN Announces Fourth Quarter 2025 Financial Results Quarterly Revenue of $217.5 Million, Up 72% Year-Over-Year Annualized Recurring Revenue of $841 Million, Up 77% Year-Over-Year Adjusted EBITDA of $74.1 Million, Up 78% Year-Over-Year Operating Cash Flows of $55.3 Million Enabled Repayment of $17 Million of Debt BOISE, Idaho — February 18, 2026 — Clearwater Analytics Holdings, Inc. (NYSE: CWAN) ("CWAN" or the "Company"), the most comprehensive technology platform for investment management, today announced ...

Conestoga Capital Advisors, an asset management company, released its fourth-quarter 2025 investor letter. As many believe, US equities experienced solid returns in 2025, with double-digit gains across all major indices, yet underlying conditions revealed extreme volatility and market leadership. A copy of the letter can be downloaded here. In Q4 2025, Conestoga Capital Advisors Small Cap Strategy returned -1.89% net-of-fees, trailing the Russell 2000 Growth Index’s 1.22% return. The returns were volatile i ...

Company Overview - Clearwater Analytics Holdings, Inc. is a technology-driven provider of investment accounting and analytics software, utilizing a scalable SaaS platform to deliver critical solutions for institutional asset owners and managers [6] - The company operates a subscription-based business model, generating recurring revenue by providing cloud-based software and analytics services to institutional clients, including insurers, investment managers, corporations, institutional investors, and government entities [9] Financial Performance - As of February 12, 2026, Clearwater Analytics had a market capitalization of $6.78 billion and reported a revenue of $451.80 million with a net income of $424.38 million for the trailing twelve months [4] - In the third quarter, the company experienced a revenue increase of 77% year over year, reaching $205.1 million, while adjusted EBITDA rose 84% to $70.7 million, and annualized recurring revenue reached $807.5 million with a net revenue retention rate of 108% [10] Recent Developments - Keenan Capital initiated a new position in Clearwater Analytics by purchasing 3,660,973 shares valued at approximately $88.30 million during the fourth quarter, which now represents 16.08% of Keenan Capital's reportable U.S. equity AUM as of December 31, 2025 [2][8] - Clearwater Analytics agreed to be acquired in an $8.4 billion deal in December, raising questions about the timing of the share accumulation by Keenan Capital [11] Market Position - As of February 12, 2026, shares of Clearwater Analytics were priced at $23.47, reflecting a decline of 14.5% over the past year and underperforming the S&P 500 by 27.43 percentage points [8]

Core Insights - Clearwater Analytics (CWAN) is expected to report quarterly earnings of $0.15 per share, reflecting a year-over-year increase of 15.4% [1] - Projected revenues for the upcoming quarter are $216.66 million, which represents a significant increase of 71.3% compared to the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the past 30 days, indicating analysts' reassessment of their projections [1] Financial Metrics - The estimated 'Number of Clients' for Clearwater Analytics is projected to be 1,562, up from 1,462 in the previous year [4] - Analysts forecast a 'Net revenue retention rate' of 111.5%, down from 116.0% reported in the same quarter last year [4] - The 'Total ARR' is expected to reach $838.42 million, compared to $474.90 million a year ago [4] Stock Performance - Over the past month, shares of Clearwater Analytics have decreased by 4.6%, while the Zacks S&P 500 composite has declined by 1.7% [5] - Currently, CWAN holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [5]

PHILADELPHIA, Feb. 13, 2026 (GLOBE NEWSWIRE) -- Kaskela Law LLC is investigating the fairness of the recently announced proposed buyout of Clearwater Analytics Holdings, Inc. (NYSE: CWAN) (“Clearwater”) shareholders to determine whether the buyout price is fair to the company’s investors.  Click here to receive additional information about this investigation: https://kaskelalaw.com/case/clearwater-analytics-buyout/  On December 21, 2025, Clearwater announced that it had agreed to be acquired by a group of p ...

Group 1 - A consortium of private credit firms, led by Goldman Sachs Alternative Investment Fund, will provide $3.5 billion to support the acquisition of Clearwater Analytics (CWAN.US) [1] - The debt issuance will carry a premium of 4.5 percentage points over the U.S. benchmark interest rate [1] - The acquisition, led by private equity firms Permira Holdings and Warburg Pincus, values Clearwater at approximately $8.4 billion and is expected to close by mid-2026 [1] Group 2 - Clearwater provides a cloud software platform for institutional investors in both public and private markets [2] - Recent market focus on the potential of artificial intelligence replacing software services has led to a decline in debt prices for some companies, casting a shadow over private equity investments in software [2] - The financing for the acquisitions of OneStream and Clearwater indicates that private credit institutions remain open to the software sector despite scrutiny over their exposure to risks [2]