Clearwater Analytics (NYSE:CWAN) Hits New 12-Month High - What's Next?

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $27.47 and last traded at $27.47, with a volume of 80096 shares trading hands. The stock had previously closed at $27.40.

Wall Street Analysts Forecast Growth

CWAN has been the subject of several recent research reports. Piper Sandler reissued a "neutral" rating and issued a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Morgan Stanley upped their target price on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday. Oppenheimer raised their target price on shares of Clearwater Analytics from $25.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, October 7th. Royal Bank of Canada increased their price objective on shares of Clearwater Analytics from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, September 18th. Finally, Citigroup initiated coverage on shares of Clearwater Analytics in a research report on Monday, August 19th. They set a "buy" rating and a $28.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.67.

Clearwater Analytics Trading Down 1.3 %

The company has a quick ratio of 4.78, a current ratio of 4.78 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $6.64 billion, a PE ratio of -338.00, a PEG ratio of 9.16 and a beta of 0.62. The business's 50-day moving average is $24.85 and its two-hundred day moving average is $20.95.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last released its quarterly earnings results 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 for 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%. The firm'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. On average, analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clearwater Analytics news, CFO James S. Cox sold 14,850 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.02, for a total transaction of $326,997.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares of the company's stock, valued at $5,119,716.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Warburg Pincus Llc sold 9,000,000 shares of Clearwater Analytics stock in a transaction dated 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 SEC, which is available at this hyperlink. Also, CFO James S. Cox sold 14,850 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.02, for a total transaction of $326,997.00. Following the transaction, the chief financial officer now owns 232,503 shares in the company, valued at approximately $5,119,716.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,879,543 shares of company stock valued at $247,145,339. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Clearwater Analytics

A number of institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its stake in shares of Clearwater Analytics by 268.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,693 shares of the company's stock worth $30,000 after purchasing an additional 1,234 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Clearwater Analytics by 389.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,947 shares of the company's stock worth $34,000 after buying an additional 1,549 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Clearwater Analytics during the third quarter worth about $45,000. Amalgamated Bank purchased a new position in Clearwater Analytics in the second quarter valued at about $90,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Clearwater Analytics during the 2nd quarter valued at approximately $91,000. 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.