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

by · The Markets Daily

Clearwater Analytics Holdings, Inc. (NYSE:CWAN – Get Free Report) CFO James Cox sold 11,275 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $21.41, for a total value of $241,397.75. Following the sale, the chief financial officer directly owned 328,983 shares in the company, valued at approximately $7,043,526.03. This represents a 3.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Clearwater Analytics Stock Up 1.7%

Shares of CWAN traded up $0.37 on Thursday, hitting $22.07. The company’s stock had a trading volume of 169,749 shares, compared to its average volume of 4,033,113. The firm’s fifty day moving average price is $19.70 and its 200-day moving average price is $20.33. Clearwater Analytics Holdings, Inc. has a fifty-two week low of $15.73 and a fifty-two week high of $32.00. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 5.66 and a beta of 0.67.

Clearwater Analytics (NYSE:CWAN – Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $205.11 million during the quarter, compared to the consensus estimate of $203.66 million. Clearwater Analytics had a net margin of 61.28% and a return on equity of 2.77%. The business’s quarterly revenue was up 77.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. On average, equities research analysts expect that Clearwater Analytics Holdings, Inc. will post 0.18 EPS for the current year.

Clearwater Analytics announced that its board has approved a stock repurchase plan on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Clearwater Analytics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its stake in shares of Clearwater Analytics by 189.3% in the third quarter. Versant Capital Management Inc now owns 1,565 shares of the company’s stock valued at $28,000 after buying an additional 1,024 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Clearwater Analytics by 278.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,523 shares of the company’s stock valued at $33,000 after acquiring an additional 1,121 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Clearwater Analytics by 54.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,806 shares of the company’s stock worth $33,000 after purchasing an additional 640 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Clearwater Analytics by 84.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,545 shares of the company’s stock valued at $35,000 after purchasing an additional 708 shares during the period. Finally, Danske Bank A S acquired a new stake in Clearwater Analytics in the 3rd quarter valued at about $36,000. Institutional investors own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CWAN shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Clearwater Analytics in a report on Wednesday, September 17th. UBS Group reduced their price objective on Clearwater Analytics from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. decreased their price objective on Clearwater Analytics from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Clearwater Analytics in a research note on Monday. Finally, Wall Street Zen cut shares of Clearwater Analytics from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Clearwater Analytics currently has an average rating of “Moderate Buy” and an average target price of $29.56.

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Clearwater Analytics Company Profile

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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.

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