Insider Selling: Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CFO Sells 18,700 Shares of Stock

by · The Markets Daily

Clearwater Analytics Holdings, Inc. (NYSE:CWAN – Get Free Report) CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $24.44, for a total value of $457,028.00. Following the completion of the transaction, the chief financial officer now owns 227,503 shares of the company’s stock, valued at $5,560,173.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Clearwater Analytics Stock Performance

CWAN traded up $0.21 on Tuesday, reaching $24.72. The stock had a trading volume of 1,631,691 shares, compared to its average volume of 1,498,522. The business’s 50-day moving average price is $22.35 and its two-hundred day moving average price is $19.45. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.11. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $24.93. The company has a market cap of $6.07 billion, a P/E ratio of -306.38, a price-to-earnings-growth ratio of 8.54 and a beta of 0.61.

Clearwater Analytics (NYSE:CWAN – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The company had revenue of $106.79 million during the quarter, compared to analysts’ expectations of $105.51 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. Clearwater Analytics’s quarterly revenue was up 18.8% compared to the same quarter last year. Sell-side analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its holdings in Clearwater Analytics by 35.6% in the 1st quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after buying an additional 4,304,286 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Clearwater Analytics by 1.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock worth $210,659,000 after acquiring an additional 128,402 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Clearwater Analytics by 0.6% during the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock worth $193,178,000 after purchasing an additional 66,528 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised 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. Institutional investors and hedge funds own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CWAN shares. Oppenheimer upgraded 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 report on Monday, July 8th. Piper Sandler reiterated a “neutral” rating and issued a $23.00 price objective on shares of Clearwater Analytics in a research note on Monday, September 9th. Citigroup began coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a “buy” rating and a $28.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.30.

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Clearwater Analytics Company Profile

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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.

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