Clearwater Analytics (NYSE:CWAN) Sets New 52-Week High at $25.82

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $25.82 and last traded at $25.75, with a volume of 51117 shares traded. The stock had previously closed at $25.66.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CWAN shares. Wells Fargo & Company lifted their price objective on shares of Clearwater Analytics from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Oppenheimer raised Clearwater Analytics from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a report on Monday, July 8th. Citigroup started coverage on Clearwater Analytics in a research note on Monday, August 19th. They issued a "buy" rating and a $28.00 price objective on the stock. 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. Finally, Royal Bank of Canada raised their price target on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Clearwater Analytics has a consensus rating of "Moderate Buy" and a consensus price target of $23.90.

Clearwater Analytics Trading Up 0.7 %

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 has a market capitalization of $6.35 billion, a price-to-earnings ratio of -323.13, a P/E/G ratio of 8.54 and a beta of 0.61. The firm's 50-day moving average is $23.14 and its 200 day moving average is $19.80.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $106.79 million for the quarter, compared to analysts' expectations of $105.51 million. Clearwater Analytics had a negative net margin of 1.14% and a positive return on equity of 3.55%. Clearwater Analytics's revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. On average, equities analysts predict that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Clearwater Analytics

In other Clearwater Analytics news, CFO James S. Cox sold 11,275 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $18.92, for a total transaction of $213,323.00. Following the completion of the sale, the chief financial officer now owns 232,503 shares of the company's stock, valued at approximately $4,398,956.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Warburg Pincus Llc sold 9,000,000 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $22.41, for a total transaction of $201,690,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James S. Cox sold 11,275 shares of the business's stock in a transaction that occurred 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 completion of 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. Insiders sold 10,897,118 shares of company stock worth $247,319,596 over the last ninety days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Clearwater Analytics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its stake in Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company's stock valued at $30,000 after purchasing an additional 1,234 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Clearwater Analytics by 389.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company's stock worth $34,000 after acquiring an additional 1,549 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Clearwater Analytics in the 2nd quarter worth about $90,000. Point72 Asset Management L.P. acquired a new position in Clearwater Analytics during the 2nd quarter valued at about $91,000. Finally, RiverPark Advisors LLC increased its holdings in Clearwater Analytics by 361.0% during the 1st quarter. RiverPark Advisors LLC now owns 5,366 shares of the company's stock worth $95,000 after purchasing an additional 4,202 shares in 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.