Insider Selling: Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CFO Sells $323,868.00 in Stock

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) CFO James S. Cox sold 13,700 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $23.64, for a total transaction of $323,868.00. Following the completion of the sale, the chief financial officer now directly owns 232,503 shares in the company, valued at approximately $5,496,370.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Clearwater Analytics Trading Up 1.2 %

Shares of Clearwater Analytics stock opened at $24.65 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.59 and a quick ratio of 5.59. The business has a fifty day simple moving average of $20.41 and a two-hundred day simple moving average of $18.85. Clearwater Analytics Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $24.75. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of -308.13, a P/E/G ratio of 9.19 and a beta of 0.57.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $106.79 million during 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 3.61%. Clearwater Analytics’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. Research analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Clearwater Analytics

A number of institutional investors have recently made changes to their positions in the company. 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 worth $289,962,000 after purchasing an additional 4,304,286 shares during the period. Vanguard Group Inc. increased its position in Clearwater Analytics by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after buying an additional 2,219,459 shares during the period. 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 buying an additional 128,402 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Clearwater Analytics by 0.6% during the second quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock worth $193,178,000 after buying an additional 66,528 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position 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 valued at $123,551,000 after acquiring an additional 165,000 shares during the period. Institutional investors own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CWAN. JPMorgan Chase & Co. cut their price target on shares of Clearwater Analytics from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Wells Fargo & Company upped their target price on Clearwater Analytics from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Citigroup initiated coverage on Clearwater Analytics in a research note on Monday. They issued a “buy” rating and a $28.00 price target for the company. Oppenheimer upgraded Clearwater Analytics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Monday, July 8th. Finally, Piper Sandler increased their price objective on Clearwater Analytics from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.45.

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.