Clearwater Analytics (NYSE:CWAN) Sets New 1-Year High at $25.82

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $25.82 and last traded at $25.75, with a volume of 51117 shares changing hands. The stock had previously closed at $25.66.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CWAN shares. Royal Bank of Canada upped their price objective on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Citigroup started coverage on Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed a “neutral” rating and set a $23.00 target price on shares of Clearwater Analytics in a report on Monday, September 9th. Finally, Oppenheimer raised Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research note on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.90.

Clearwater Analytics Stock Down 0.2 %

The firm has a market cap of $6.29 billion, a price-to-earnings ratio of -320.75, a PEG ratio of 8.54 and a beta of 0.61. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. The firm’s 50 day simple moving average is $23.01 and its two-hundred day simple moving average is $19.74.

Clearwater Analytics (NYSE:CWAN) last released its earnings results 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 firm had revenue of $106.79 million for the quarter, compared to analyst estimates of $105.51 million. During the same period last year, the firm earned ($0.03) EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 EPS for the current year.

Insider Activity

In related news, CFO James S. Cox sold 11,275 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $18.92, for a total value of $213,323.00. Following the transaction, the chief financial officer now owns 232,503 shares in the company, valued at $4,398,956.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of Clearwater Analytics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $24.44, for a total transaction of $457,028.00. Following the transaction, the chief financial officer now directly owns 227,503 shares of the company’s stock, valued at approximately $5,560,173.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James S. Cox sold 11,275 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $18.92, for a total transaction of $213,323.00. Following the transaction, the chief financial officer now directly owns 232,503 shares in the company, valued at $4,398,956.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,897,118 shares of company stock worth $247,319,596. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds and other institutional investors have recently modified their holdings of CWAN. Wasatch Advisors LP increased its position in shares of Clearwater Analytics by 35.6% during the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after purchasing an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. boosted its stake in Clearwater Analytics by 17.2% in the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock valued at $267,676,000 after acquiring an additional 2,219,459 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position 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 valued at $210,659,000 after buying an additional 128,402 shares during the last quarter. William Blair Investment Management LLC raised its stake in 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 acquiring an additional 66,528 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Clearwater Analytics by 2.5% during 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 period. Hedge funds and other institutional investors own 50.10% of the company’s stock.

Clearwater Analytics Company Profile

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.