Chase Investment Counsel Adds Clearwater Analytics Shares

Company Overview - Clearwater Analytics provides scalable SaaS solutions for investment data management and reporting, enabling real-time access to accurate investment information across various asset classes and reporting systems [4] - The company operates a Software-as-a-Service (SaaS) business model, focusing on automated investment data aggregation, reconciliation, accounting, and reporting, particularly through the Clearwater Prism platform [7] Financial Metrics - As of market close on February 4, Clearwater Analytics had a stock price of $23.46 and a market capitalization of $6.80 billion [3] - The company reported a total revenue of $640.38 million and a net income of $392.58 million for the trailing twelve months (TTM) [3] Recent Investment Activity - Chase Investment Counsel Corp established a new position in Clearwater Analytics, acquiring over 237,000 shares valued at $5.7 million, which represents 1.6% of the firm's equity assets under management (AUM) as of December 31 [5][6] - This new position is outside the fund's top five holdings, which include significant investments in companies like NVIDIA and Google [6] Acquisition News - In late December, private equity firms Permira and Warburg Pincus agreed to acquire Clearwater Analytics for $8.4 billion, or $24.55 per share, in a take-private transaction [8] - Depending on the timing of Chase's purchases, there could be potential gains; however, investors are advised to be cautious due to limited upside and potential downside risks if the acquisition deal does not proceed [8] Stock Performance - Clearwater Analytics' shares have decreased by 17.4% over the past year as of February 4, underperforming compared to the Nasdaq Composite's decline of 17.3% and the S&P 500 index's decline of 15.5% [9]