Raymond James & Associates Buys 297,286 Shares of Clarivate Plc (NYSE:CLVT)

Raymond James & Associates boosted its stake in shares of Clarivate Plc (NYSE:CLVT) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,086,814 shares of the company’s stock after purchasing an additional 297,286 shares during the period. Raymond James & Associates owned 0.91% of Clarivate worth $45,225,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in shares of Clarivate during the 3rd quarter worth approximately $33,000. Montag A & Associates Inc. raised its position in Clarivate by 729.6% during the fourth quarter. Montag A & Associates Inc. now owns 7,732 shares of the company’s stock worth $72,000 after acquiring an additional 6,800 shares in the last quarter. Forum Financial Management LP acquired a new stake in Clarivate in the third quarter valued at $81,000. Wedmont Private Capital bought a new position in shares of Clarivate in the 4th quarter valued at about $99,000. Finally, Simplicity Solutions LLC acquired a new position in shares of Clarivate during the 3rd quarter worth about $108,000. 85.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CLVT shares. Royal Bank of Canada cut their target price on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Barclays reduced their target price on Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Morgan Stanley reduced their price objective on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. Finally, Oppenheimer dropped their price objective on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.00.

Clarivate Stock Performance

Shares of Clarivate stock traded down $0.09 during trading on Friday, reaching $6.85. The company’s stock had a trading volume of 3,577,809 shares, compared to its average volume of 4,043,443. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The business’s 50-day moving average price is $7.21 and its 200-day moving average price is $7.86. Clarivate Plc has a 52 week low of $6.07 and a 52 week high of $10.03. The firm has a market cap of $4.58 billion, a PE ratio of -4.63, a P/E/G ratio of 1.42 and a beta of 1.24.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The firm had revenue of $683.70 million during the quarter, compared to the consensus estimate of $687.80 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts forecast that Clarivate Plc will post 0.62 earnings per share for the current year.

Clarivate Profile

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.