Clearwater Analytics (NYSE:CWAN) Hits New 12-Month High at $24.88

Clearwater Analytics Holdings, Inc. (NYSE:CWAN)’s share price reached a new 52-week high on Thursday . The stock traded as high as $24.88 and last traded at $24.73, with a volume of 49458 shares changing hands. The stock had previously closed at $24.66.

Analysts Set New Price Targets

CWAN has been the topic of several recent research reports. Citigroup began coverage on Clearwater Analytics in a research note on Monday. They issued a “buy” rating and a $28.00 price target on the stock. Wells Fargo & Company upped their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research report on Monday, July 8th. Morgan Stanley reissued an “equal weight” rating and issued a $19.00 target price on shares of Clearwater Analytics in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Clearwater Analytics presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.45.

Clearwater Analytics Stock Down 1.2 %

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 market cap of $5.99 billion, a PE ratio of -308.13, a P/E/G ratio of 9.19 and a beta of 0.57. The business’s 50 day moving average is $20.41 and its 200-day moving average is $18.85.

Clearwater Analytics (NYSE:CWAN) last issued its earnings results on Wednesday, July 31st. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $106.79 million during the quarter, compared to the consensus estimate of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.61%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, analysts predict that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other news, CFO James S. Cox sold 6,275 shares of Clearwater Analytics stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.10, for a total transaction of $126,127.50. Following the completion of the sale, the chief financial officer now directly owns 235,962 shares in the company, valued at $4,742,836.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO James S. Cox sold 11,275 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $18.92, for a total transaction of $213,323.00. Following the sale, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $4,398,956.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James S. Cox sold 6,275 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.10, for a total value of $126,127.50. Following the completion of the transaction, the chief financial officer now owns 235,962 shares of the company’s stock, valued at approximately $4,742,836.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,264,691 shares of company stock valued at $345,095,448. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clearwater Analytics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its holdings in shares of 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 period. Vanguard Group Inc. boosted its holdings in shares of Clearwater Analytics by 17.2% during the first 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 period. Kayne Anderson Rudnick Investment Management LLC boosted 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 valued at $210,659,000 after buying an additional 128,402 shares during the period. William Blair Investment Management LLC lifted its stake in Clearwater Analytics by 0.6% in the second 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 last quarter. Finally, Conestoga Capital Advisors LLC raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 50.10% of the company’s stock.

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.