Clearwater Analytics (NYSE:CWAN) Hits New 12-Month High on Analyst Upgrade

Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday after Oppenheimer raised their price target on the stock from $25.00 to $31.00. Oppenheimer currently has an outperform rating on the stock. Clearwater Analytics traded as high as $26.70 and last traded at $26.70, with a volume of 115132 shares. The stock had previously closed at $25.06.

Several other brokerages also recently commented on CWAN. Wells Fargo & Company boosted 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. Citigroup started coverage on Clearwater Analytics in a report on Monday, August 19th. They issued a "buy" rating and a $28.00 price target on the stock. Royal Bank of Canada raised their target price 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. Finally, Piper Sandler restated a "neutral" rating and set a $23.00 price objective on shares of Clearwater Analytics in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.44.

Insider Buying and Selling at Clearwater Analytics

In related news, CRO Scott Stanley Erickson sold 3,890 shares of the firm's stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $19.50, for a total value of $75,855.00. Following the completion of the sale, the executive now directly owns 4,844 shares in the company, valued at $94,458. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Clearwater Analytics news, CRO Scott Stanley Erickson sold 3,890 shares of the business's stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $19.50, for a total transaction of $75,855.00. Following the completion of the transaction, the executive now owns 4,844 shares in the company, valued at $94,458. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James S. Cox sold 18,700 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $24.44, for a total value of $457,028.00. Following the transaction, the chief financial officer now directly owns 227,503 shares in the company, valued at approximately $5,560,173.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,897,118 shares of company stock worth $247,319,596 over the last ninety days. Company insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CWAN. Wasatch Advisors LP increased its stake in shares of Clearwater Analytics by 35.6% during the first 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. lifted its position in shares of Clearwater Analytics by 36.6% in the 4th quarter. Vanguard Group Inc. now owns 12,912,046 shares of the company's stock worth $258,628,000 after purchasing an additional 3,461,158 shares during the period. William Blair Investment Management LLC boosted its stake 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 valued at $183,344,000 after purchasing an additional 3,090,352 shares in the last quarter. Hood River Capital Management LLC purchased a new position in Clearwater Analytics during the second quarter valued at approximately $43,280,000. Finally, Bamco Inc. NY raised its stake in Clearwater Analytics by 30.8% in the first quarter. Bamco Inc. NY now owns 5,359,172 shares of the company's stock worth $94,804,000 after buying an additional 1,262,150 shares in the last quarter. Hedge funds and other institutional investors own 50.10% of the company's stock.

Clearwater Analytics Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The company has a market cap of $6.18 billion, a PE ratio of -314.25, a price-to-earnings-growth ratio of 9.30 and a beta of 0.62. The business has a fifty day simple moving average of $24.17 and a two-hundred day simple moving average of $20.39.

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 analysts' consensus estimates of $0.10. The firm had revenue of $106.79 million during the quarter, compared to analysts' expectations of $105.51 million. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The firm's quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. Research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current year.

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.