Clearwater Analytics (NYSE:CWAN) Sees Strong Trading Volume

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw an uptick in trading volume on Thursday . 470,649 shares were traded during trading, a decline of 62% from the previous session’s volume of 1,237,426 shares.The stock last traded at $18.76 and had previously closed at $18.63.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CWAN. Morgan Stanley restated an “equal weight” rating and set a $19.00 price objective on shares of Clearwater Analytics in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Wells Fargo & Company dropped their price objective on Clearwater Analytics from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and an average price target of $21.70.

Clearwater Analytics Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 5.59 and a quick ratio of 5.59. The company has a 50-day moving average price of $18.48 and a 200 day moving average price of $18.49.

Clearwater Analytics (NYSE:CWAN) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $102.70 million during the quarter, compared to analyst estimates of $100.55 million. Clearwater Analytics had a positive return on equity of 1.25% and a negative net margin of 3.90%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.13 earnings per share for the current year.

Insider Transactions at Clearwater Analytics

In other news, Director Warburg Pincus Llc sold 7,000,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total value of $137,970,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Warburg Pincus Llc sold 7,000,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $19.71, for a total transaction of $137,970,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Subi Sethi sold 18,599 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $19.46, for a total value of $361,936.54. Following the transaction, the insider now directly owns 77,519 shares in the company, valued at $1,508,519.74. The disclosure for this sale can be found here. In the last three months, insiders sold 7,193,079 shares of company stock valued at $141,831,984. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CWAN. Advisors Asset Management Inc. increased its holdings in shares of Clearwater Analytics by 268.8% in the first quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock worth $34,000 after purchasing an additional 1,549 shares in the last quarter. Eagle Bay Advisors LLC boosted its position in Clearwater Analytics by 213.3% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,773 shares of the company’s stock worth $36,000 after purchasing an additional 1,207 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Clearwater Analytics by 33.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,442 shares of the company’s stock worth $49,000 after purchasing an additional 616 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Clearwater Analytics during the fourth quarter worth approximately $90,000. 50.10% of the stock is owned by institutional investors and hedge funds.

About Clearwater Analytics

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.