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Cash allocations by U.S. corporations have halved since 2021 as elevated interest rates prompt a shift to higher-yielding treasury bills, data from Clearwater Analytics (CWAN.N), showed on Tuesday.
Clearwater Analytics Holdings, Inc. (NYSE: CWAN), will release financial results for the third quarter of fiscal 2021 after the U.S. financial markets close on Wednesday, November 3, 2021.
Souvik Das, Chief Technology Officer of Clearwater Analytics, was captivated by computers since he was a youngster. Surprisingly, being the son of an ENT surgeon, his interest in technology arose from his surroundings in the tech-evolving outside world.
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Clearwater Analytics has appointed Sai Perry as head of solutions, Europe and Asia. Based in London, Perry will report to Gayatri Raman, president of Europe and Asia. Perry will be responsible for creating solutions to help clients streamline and future proof their operating models. Prior to Clearwater Analytics, Perry was director at PwC in London, where he set up and led the asset management technology team that serviced clients globally.
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The asset management industry is filled with firms relying on outdated, legacy technologies. While companies may have gotten by in the past, the pandemic and remote working have exposed the inconvenience of these expensive and inaccessible on-premise infrastructures. Working from home had meant that these employees struggled to access critical data and applications, disrupting businesses at an already volatile time.
Clearwater Analytics Holdings, Inc. today announced the pricing of its initial public offering of 30,000,000 shares of its Class A common stock at a price to the public of $18.00 per share.
Privately held Boise software company Clearwater Analytics got a huge boost when its initial public offering debuted Friday on the New York Stock Exchange. Clearwater shares opened 32% higher, at $23,75, than the IPO price of $18 per share. It led to a valuation of the company at $5.5 billion. Earlier, private-equity firm Welsh Carson Anderson & Stowe, the company’s majority owner, expected an IPO price of only $14 to $16 a share.
Clearwater Analytics Holdings Inc., a private-equity-backed financial software maker from Idaho, rose 41% in its trading debut after pricing its initial public offering above a marketed range to raise $540 million. Clearwater’s shares closed in New York trading Friday at $25.37, giving the company a market value of $5.9 billion. The company sold 30 million shares Thursday for $18 each after marketing them for $14 to $16.