James Cox Sells 11,275 Shares of Clearwater Analytics (NYSE:CWAN) Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CFO James Cox sold 11,275 shares of Clearwater Analytics stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.51, for a total value of $219,975.25. Following the sale, the chief financial officer owned 338,964 shares of the company’s stock, valued at approximately $6,613,187.64. This trade represents a 3.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Clearwater Analytics Price Performance

CWAN opened at $19.32 on Friday. The business’s 50-day moving average is $20.35 and its two-hundred day moving average is $22.66. Clearwater Analytics Holdings, Inc. has a 1 year low of $17.98 and a 1 year high of $35.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.02 and a quick ratio of 2.02. The firm has a market capitalization of $5.65 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 4.85 and a beta of 0.73.

Clearwater Analytics (NYSE:CWAN) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Clearwater Analytics had a return on equity of 3.23% and a net margin of 73.74%.The business had revenue of $181.94 million for the quarter, compared to analysts’ expectations of $174.16 million. During the same quarter in the previous year, the firm posted $0.10 EPS. Clearwater Analytics’s revenue was up 70.4% on a year-over-year basis. Research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Clearwater Analytics announced that its Board of Directors has approved a stock buyback program on Wednesday, September 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 1.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Clearwater Analytics

A number of hedge funds have recently modified their holdings of CWAN. Zevenbergen Capital Investments LLC grew its holdings in shares of Clearwater Analytics by 48.6% during the first quarter. Zevenbergen Capital Investments LLC now owns 909,429 shares of the company’s stock valued at $24,373,000 after buying an additional 297,414 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Clearwater Analytics during the 1st quarter worth about $314,000. Vanguard Group Inc. lifted its position in shares of Clearwater Analytics by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 23,246,312 shares of the company’s stock worth $623,001,000 after purchasing an additional 2,366,715 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Clearwater Analytics during the 1st quarter worth about $409,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Clearwater Analytics during the 4th quarter worth about $8,580,000. 50.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CWAN has been the subject of a number of research analyst reports. Oppenheimer lowered their price target on Clearwater Analytics from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Wednesday, June 11th. The Goldman Sachs Group raised Clearwater Analytics from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, August 11th. Zacks Research raised Clearwater Analytics from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Piper Sandler set a $27.00 target price on Clearwater Analytics and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. Finally, DA Davidson cut their target price on Clearwater Analytics from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

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.