Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Short Interest Down 9.3% in August

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 7,880,000 shares, a drop of 9.3% from the August 15th total of 8,690,000 shares. Based on an average daily volume of 2,030,000 shares, the short-interest ratio is presently 3.9 days. Currently, 5.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

CWAN has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler reissued a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Oppenheimer raised shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Monday, July 8th. Finally, Wells Fargo & Company lifted their price target on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Clearwater Analytics has an average rating of “Moderate Buy” and an average target price of $23.90.

Clearwater Analytics Stock Up 1.7 %

CWAN traded up $0.43 during trading on Wednesday, hitting $25.15. The company had a trading volume of 2,005,944 shares, compared to its average volume of 1,501,325. The company has a market capitalization of $6.18 billion, a PE ratio of -314.38, a PEG ratio of 8.54 and a beta of 0.61. Clearwater Analytics has a one year low of $15.62 and a one year high of $25.42. The firm’s 50-day moving average price is $22.61 and its 200 day moving average price is $19.55. The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11.

Clearwater Analytics (NYSE:CWAN) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. The business had revenue of $106.79 million for the quarter, compared to analysts’ expectations of $105.51 million. During the same period in the previous year, the firm posted ($0.03) EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. As a group, equities analysts expect that Clearwater Analytics will post 0.14 earnings per share for the current year.

Insider Activity at Clearwater Analytics

In other Clearwater Analytics news, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction on Monday, August 26th. The shares were sold at an average price of $24.18, for a total transaction of $43,144,760.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $22.41, for a total transaction of $201,690,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Galibier Purchaser, Llc sold 1,784,316 shares of Clearwater Analytics stock in a transaction on Monday, August 26th. The stock was sold at an average price of $24.18, for a total transaction of $43,144,760.88. The disclosure for this sale can be found here. Insiders sold a total of 10,897,118 shares of company stock valued at $247,319,596 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Clearwater Analytics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its stake in Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after buying an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Clearwater Analytics by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after purchasing an additional 2,219,459 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Clearwater Analytics by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock worth $210,659,000 after purchasing an additional 128,402 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Clearwater Analytics by 0.6% in the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock valued at $193,178,000 after purchasing an additional 66,528 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in Clearwater Analytics by 2.5% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company’s stock valued at $123,551,000 after purchasing an additional 165,000 shares during the last quarter. 50.10% of the stock is currently 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.