Clearwater Analytics (NYSE:CWAN) Hits New 12-Month High – Still a Buy?

Shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) reached 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.

Analyst Upgrades and Downgrades

CWAN has been the topic of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research report on Monday, September 9th. Morgan Stanley upped their price target on shares of Clearwater Analytics from $20.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. 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 report on Thursday, August 1st. Citigroup assumed coverage on shares of Clearwater Analytics in a report on Monday, August 19th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Oppenheimer lifted their price target on Clearwater Analytics from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

Clearwater Analytics Stock Down 0.3 %

The firm has a market cap of $6.62 billion, a P/E ratio of -336.88, a P/E/G ratio of 9.16 and a beta of 0.62. The firm’s fifty day moving average is $24.93 and its 200 day moving average is $21.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.78 and a current ratio of 4.78.

Clearwater Analytics (NYSE:CWAN) last announced its 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 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%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. As a group, equities research analysts anticipate that Clearwater Analytics Holdings, Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO James S. Cox sold 14,850 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 owns 232,503 shares of the company’s stock, valued at $5,119,716.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO James S. Cox sold 18,700 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total transaction of $489,192.00. Following the sale, the chief financial officer now owns 224,044 shares of the company’s stock, valued at $5,860,991.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO James S. Cox sold 14,850 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.02, for a total value of $326,997.00. Following the completion of the transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at approximately $5,119,716.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,879,543 shares of company stock worth $247,145,339. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Clearwater Analytics

Hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP raised its holdings in Clearwater Analytics by 35.6% in the 1st 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 last quarter. Vanguard Group Inc. raised its stake in shares of Clearwater Analytics by 17.2% during the first quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock valued at $267,676,000 after acquiring an additional 2,219,459 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Clearwater Analytics by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock worth $210,659,000 after purchasing an additional 128,402 shares during the period. William Blair Investment Management LLC grew its stake in shares of Clearwater Analytics by 0.6% in the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock worth $193,178,000 after purchasing an additional 66,528 shares during the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in shares of Clearwater Analytics by 2.5% in the second quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company’s stock worth $123,551,000 after purchasing an additional 165,000 shares during the last quarter. 50.10% of the stock is owned by institutional investors and hedge funds.

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.