Clearwater Analytics (NYSE:CWAN) Hits New 1-Year High – Here’s Why

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $27.47 and last traded at $27.47, with a volume of 80096 shares trading hands. The stock had previously closed at $27.40.

Analyst Ratings Changes

A number of brokerages recently weighed in on CWAN. Wells Fargo & Company lifted their target price on shares of Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their target price on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Citigroup began coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 target price for the company. Morgan Stanley increased their price target on Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Oppenheimer raised their price objective on shares of Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.67.

Clearwater Analytics Stock Down 0.3 %

The stock has a market cap of $6.62 billion, a price-to-earnings ratio of -336.88, a PEG ratio of 9.16 and a beta of 0.62. The stock has a 50 day simple moving average of $24.93 and a 200 day simple moving average of $21.02. 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 results on Wednesday, July 31st. The company reported $0.10 earnings per share (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 during the quarter, compared to the consensus estimate of $105.51 million. During the same quarter last year, the firm posted ($0.03) EPS. Clearwater Analytics’s revenue was up 18.8% compared to the same quarter last year. As a group, analysts expect that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $26.16, for a total value of $489,192.00. Following the transaction, the chief financial officer now owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James S. Cox sold 18,700 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the sale, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James S. Cox sold 14,850 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.02, for a total value of $326,997.00. Following the completion of the transaction, the chief financial officer now owns 232,503 shares in the company, valued at $5,119,716.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,879,543 shares of company stock valued at $247,145,339 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Clearwater Analytics

Several institutional investors have recently made changes to their positions in CWAN. Vanguard Group Inc. lifted its position in shares of Clearwater Analytics by 36.6% during the fourth quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock valued at $258,628,000 after purchasing an additional 3,461,158 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in Clearwater Analytics during the first quarter worth $858,000. Allspring Global Investments Holdings LLC boosted its position in Clearwater Analytics by 28.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,359,848 shares of the company’s stock worth $77,126,000 after purchasing an additional 971,920 shares during the last quarter. Wasatch Advisors LP grew 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 purchasing an additional 4,304,286 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Clearwater Analytics by 389.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company’s stock valued at $34,000 after purchasing an additional 1,549 shares during the last quarter. 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.