Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Sees Significant Growth in Short Interest

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 9,790,000 shares, a growth of 24.2% from the August 31st total of 7,880,000 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average daily volume of 2,040,000 shares, the days-to-cover ratio is currently 4.8 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CWAN shares. Wells Fargo & Company lifted their price objective on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their price target on Clearwater Analytics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Piper Sandler reissued a “neutral” rating and set a $23.00 target price on shares of Clearwater Analytics in a research note on Monday, September 9th. Citigroup started coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 price target on the stock. Finally, Oppenheimer raised shares of Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research report on Monday, July 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.78.

Clearwater Analytics Stock Up 0.6 %

CWAN traded up $0.14 during midday trading on Monday, reaching $25.34. The company’s stock had a trading volume of 159,302 shares, compared to its average volume of 1,492,003. The stock’s 50-day moving average is $23.47 and its 200-day moving average is $19.98. Clearwater Analytics has a 1 year low of $15.62 and a 1 year high of $26.02. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of -315.00, a PEG ratio of 9.30 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.

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

Insider Buying and Selling

In other Clearwater Analytics news, Director Warburg Pincus Llc sold 9,000,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $22.41, for a total value of $201,690,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 227,503 shares in the company, valued at approximately $5,560,173.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Warburg Pincus Llc sold 9,000,000 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 10,897,118 shares of company stock valued at $247,319,596. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clearwater Analytics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP boosted its position in shares of Clearwater Analytics by 35.6% in the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock worth $289,962,000 after purchasing an additional 4,304,286 shares during the period. Vanguard Group Inc. boosted its stake in shares of Clearwater Analytics by 36.6% in the fourth quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company’s stock worth $258,628,000 after acquiring an additional 3,461,158 shares during the period. William Blair Investment Management LLC grew its position in shares of Clearwater Analytics by 42.5% during the first quarter. William Blair Investment Management LLC now owns 10,364,266 shares of the company’s stock worth $183,344,000 after purchasing an additional 3,090,352 shares in the last quarter. Hood River Capital Management LLC bought a new stake in Clearwater Analytics during the 2nd quarter valued at approximately $43,280,000. Finally, Bamco Inc. NY raised its stake in Clearwater Analytics by 30.8% during the 1st quarter. Bamco Inc. NY now owns 5,359,172 shares of the company’s stock valued at $94,804,000 after purchasing an additional 1,262,150 shares during the period. 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.